Stocks
Goldman Sachs and BNY Launch Tokenized Money Market Fund System
Goldman Sachs and Bank of New York Mellon have collaborated to create a system allowing institutional investors to purchase tokenized money market funds, marking a significant advancement in the $7.1 trillion industry.
The initiative enables BNY clients to invest in money market funds with ownership recorded on Goldman's blockchain platform, according to executives from both firms.
The participation of major fund companies like BlackRock, Fidelity Investments, and Federated Hermes alongside Goldman and BNY's asset management divisions underscores growing institutional confidence in blockchain-based financial infrastructure.