Overview
- The State Street Galaxy Onchain Liquidity Sweep Fund will accept subscriptions and redemptions in PayPal’s PYUSD, processed only when assets are available.
- Ondo Finance has committed about $200 million to seed the fund, with the firm stating its OUSG vehicle will serve as the lead anchor investor.
- Access will be limited to Qualified Purchasers, reflecting a controlled distribution model tailored to institutional clients.
- The fund is designed to let institutions hold cash‑like assets on public blockchains while preserving the liquidity profile of traditional sweep products and enabling round‑the‑clock flows.
- The initial rollout targets Solana with plans to add Stellar and Ethereum, and Galaxy intends to use Chainlink tools for cross‑chain operations after launch.