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

Goldman Sachs Group, Inc. and The Bank of New York Mellon (BNY Mellon) have partnered to introduce tokenized Money Market Funds (MMFs) on a private blockchain. This initiative enables 24/7 trading and real-time settlement, leveraging BNY Mellon's LiquidityDirectSM technology and Goldman Sachs' Digital Asset Platform (GS DAP®).

The funds, backed by US Treasuries and low-risk instruments, cater to institutional demand for fractionalized, yield-bearing digital assets. The MOVE aligns with the GENIUS Act of July 2025, which regulates stablecoins while creating opportunities for compliant tokenized products.

BlackRock, Fidelity, and Federated Hermes are among key supporters. Moody's reports tokenized short-term funds grew to $5.7 billion since 2021, signaling accelerating institutional adoption of blockchain-based traditional finance instruments.