Goldman and BNY Launch Tokenized Money Market Funds for 24/7 Liquidity

Goldman Sachs and Bank of New York Mellon have taken a decisive step toward modernizing finance with the launch of tokenized money market funds. The collaboration leverages BNY's LiquidityDirect platform and Goldman's blockchain system, GS DAP, to enable institutional clients to subscribe and redeem funds with unprecedented efficiency.

The initiative unlocks 24/7 liquidity and faster settlements, bridging the gap between traditional finance and blockchain technology. Ownership is recorded on-chain, while BNY manages the dual-record structure—acting as shareholder recordkeeper and overseeing the minting and burning of mirror tokens. This ensures regulatory compliance without sacrificing the benefits of distributed ledger technology.

Major asset managers including BlackRock, Fidelity Investments, and Federated Hermes have joined the rollout. The MOVE signals growing institutional confidence in tokenization as a mechanism to blend yield, speed, and compliance in capital markets.