Goldman Sachs, BNY Mellon Team Up on Blockchain for Money-Market Funds

• Goldman Sachs and BNY Mellon launched a blockchain platform for tokenized money market funds, enabling 24/7 institutional access.
• These tokenized fund shares generate passive yield from underlying assets like U.S. Treasuries, unlike regular stablecoins.
• Major firms including BlackRock and Fidelity joined the initiative, signaling rising demand for blockchain-based traditional finance.

Wall Street giants Goldman Sachs and BNY Mellon have introduced a new blockchain-based platform for institutional investors to access tokenized money market funds. The system, announced on July 23, allows clients to subscribe, trade, and redeem fund shares as digital tokens that settle in real time on Goldman’s private blockchain, replacing traditional end-of-day processes.

How the new blockchain platform works

The platform connects with BNY Mellon’s LiquidityDirect portal, which is widely used for managing short-term cash. Major asset managers li…

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