State Street and Galaxy Launch SWEEP Fund on Solana With $200M Ondo Investment

SOL4.60%
ONDO-1.03%
PYUSD-0.01%
LINK1.21%
According to an announcement on Tuesday, State Street and Galaxy launched the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) on Solana, a tokenized investment vehicle enabling investors to sweep stablecoins into a yield-bearing asset for 24/7 onchain cash management. Ondo Finance committed $200 million as lead anchor investor. The fund supports subscriptions and redemptions with PayPal USD and uses Galaxy's tokenization infrastructure, Anchorage as digital custodian, and Chainlink for onchain NAV and cross-chain messaging. Plans include expansion to Stellar and Ethereum.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments