BNY, Goldman Sachs Launch Tokenized Money Market Funds

BNY Mellon and Goldman Sachs have unveiled a collaborative initiative to tokenize money market funds, marking a significant advancement in institutional adoption of blockchain technology. The partnership leverages Goldman Sachs' blockchain platform to record ownership of MMF shares, enhancing transferability and utility for sophisticated investors.

Fund managers including BlackRock, Fidelity, and Goldman Sachs Asset Management will participate in the initial launch. Investors can subscribe and redeem shares through BNY's LiquidityDirect platform, with mirrored tokens created using Goldman's award-winning GS DAP technology.

This development represents the first U.S.-based implementation of tokenized MMF subscriptions, signaling growing institutional confidence in digital asset infrastructure. The MOVE aligns with broader trends of traditional finance embracing blockchain solutions for capital markets.