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CryptoMediumUpdated×9•Originally published 5 May 2026•Updated 7 May 2026•

1 min read

State Street and Galaxy Launch Tokenized Fund for Onchain Cash Management

Key Facts

1State Street and Galaxy have announced the launch of a tokenized fund aimed at bringing cash management onto blockchain networks.

State Street and Galaxy Digital have launched a tokenized liquidity fund for 24/7 cash management on Solana, with State Street (STT) planning to introduce tokenized fund servicing capabilities from Luxembourg by late 2026. This expansion coincides with Bitwise’s acquisition of Superstate’s $267 million USCC fund, marking a strategic entry into the tokenization sector. Meanwhile, J.P. Morgan's Kinexys unit successfully completed its first near-real-time cross-border redemption of a tokenized U.S. Treasury fund. The State Street fund utilizes Chainlink for automated NAV verification and supports the PayPal USD (PYUSD) stablecoin to enhance institutional liquidity. These developments underscore a robust institutional commitment to integrating Real World Assets (RWA) into the digital ecosystem. Together, these moves signal a rapid modernization of global liquidity management through blockchain technology.

28 days ago

Version History

Version 928 days ago

What changed: Added State Street's specific timeline for expanding tokenized fund services into Luxembourg and identified the STT ticker symbol.

Version 828 days ago

What changed: Updated the story to include Bitwise's acquisition of Superstate’s $267M USCC fund, expanding the scope of institutional on-chain liquidity developments.

Version 728 days ago

What changed: Updated with the formal fund name and its status as a private liquidity fund providing 24/7 institutional cash management.

Version 629 days ago

What changed: The story was updated to include J.P. Morgan's Kinexys unit completing the first cross-border redemption of a tokenized U.S. Treasury fund involving Mastercard and Ripple.

Version 529 days ago

What changed: Added technical details regarding the integration of Chainlink for asset verification, the appointment of Anchorage as custodian, and the identification of qualified investors as the target demographic.

Version 429 days ago

What changed: The story was updated to include that the fund will support PayPal's PYUSD stablecoin.

Version 329 days ago

What changed: Clarified the specific mechanism of the fund as a direct vehicle for converting stablecoins into yield-bearing assets.

Version 229 days ago

What changed: Clarified the fund's specific function of converting stablecoins into yield-bearing assets.

Version 129 days ago

What changed: Identified the fund's name (SWEEP) and the specific blockchain network (Solana).