Goldman Sachs, BNY Mellon Launch Tokenized Money Market Funds on Blockchain

Goldman Sachs and Bank of New York Mellon have partnered to tokenize money market funds, marking a significant step in institutional blockchain adoption. The collaboration will see BNY Mellon's funds represented as digital tokens on Goldman's blockchain system, enabling real-time ownership tracking for clients.

BlackRock, Fidelity, and Federated Hermes are participating in the initial launch through BNY Mellon's LiquidityDirect platform. This MOVE reflects growing recognition of blockchain's potential to modernize traditional finance infrastructure.

The initiative demonstrates how major financial institutions are increasingly bridging traditional finance with digital asset innovation. "As the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions," said Laide Majiyagbe of BNY Mellon.