State Street Bank and Galaxy will launch a tokenized liquidity fund on the Solana chain next year

According to CoinDesk, State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026, which will use stablecoins to enable round-the-clock investor fund flows, thereby expanding the application of public chains in institutional cash management.

The fund, named "State Street Galaxy Onchain Liquidity Sweep Fund" (SWEEP), will accept subscriptions and redemptions in the PayPal-issued stablecoin PYUSD as long as the fund has available assets to process related requests. Only qualified purchasers who meet established thresholds will be able to invest in the fund. Ondo Finance has committed approximately $200 million as seed capital for this product. The two companies expect that the SWEEP fund will be issued on the Solana blockchain at launch, with plans to add Stellar and Ethereum blockchains later. Galaxy Asset Management plans to utilize Chainlink's tools for cross-chain data and asset transfers.