INSTITUTIONAL FINANCE MOVES ON-CHAIN: INSIDE THE SWEEP FUND LAUNCHING ON $SOL
State Street Investment Management and Galaxy Asset Management have announced SWEEP, a new tokenized liquidity fund launching on Solana in 2026.
This is one of the most significant steps so far in the convergence between traditional finance (TradFi) and on-chain infrastructure.
πΉ What is SWEEP?
A tokenized money market fund, operating on-chain and using PYUSD ( $PYPL (PayPal Holdings) βs stablecoin) for 24/7 deposits and withdrawals.
Like BlackRockβs BUIDL, SWEEP will be available only to qualified investors.
πΉ Key partners
β’ State Street: custodian for the fundβs cash and underlying securities
β’ Galaxy: technology provider for tokenization and on-chain operations
β’ Ondo Finance: contributing $200M in initial liquidity from day one
πΉ Why Solana?
High throughput, low fees, and efficiency make it well-suited for institutional-grade financial products.
Future integrations are already planned for $XLM$ETH and $LINK for cross-chain connectivity.
Why it matters
SWEEP is another strong signal of the accelerating growth of RWA (Real World Assets) and institutional adoption of tokenized financial products, from liquidity funds to government bonds and private credit.
As State Street notes:
βTradFi and DeFi working together will reshape asset management and capital markets.β
The message is clear:
global finance is entering the on-chain era, and Solana is positioned as one of the key platforms enabling this transition.
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Not investment advice. The author may have financial interests in the mentioned instruments.
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Tue Aug 11 2026 11:41:01 GMT+0000 (Coordinated Universal Time)
