Overview
- Goldman Sachs and BNY Mellon have launched tokenized share classes of money market funds on Goldman’s blockchain platform for institutional investors.
- The offering includes funds from BlackRock, Fidelity Investments, Federated Hermes, as well as Goldman and BNY’s own asset management units.
- The rollout leverages the newly enacted GENIUS Act, signed by President Trump in July, which created a regulatory framework for U.S. stablecoins.
- Tokenization delivers real-time settlements and cuts operational frictions inherent in conventional money market transactions.
- Executives say the digitized funds could eventually move between financial intermediaries without cash liquidation, enabling an interoperable digital cash ecosystem.