Goldman Sachs, BNY to offer tokenized money market funds for clients
Goldman Sachs and BNY will allow institutions to access tokenized money market funds with 24/7 settlement and blockchain-based ownership tracking.
Wall Street giants Goldman Sachs and BNY are preparing to offer institutional investors access to tokenized money market funds, which could unlock real-time settlement, 24/7 market access and more efficiencies across capital markets.
Clients of BNY, the world’s largest custodian bank, will soon be able to invest in money market funds whose ownership is recorded directly on Goldman Sachs’ private blockchain, according to a Wednesday news release.
“As the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions that shape the future of finance,” said Laide Majiyagbe, global head of liquidity, financing and collateral at BNY.