Solana’s Institutional Leap: Ondo Finance, State Street, and Galaxy Launch Tokenized Liquidity Fund

In a landmark move for institutional blockchain adoption, Ondo Finance has announced a strategic partnership with State Street Investment Management and Galaxy Digital to launch the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP). This tokenized private liquidity fund is scheduled to debut on the solana blockchain early next year, signaling a major vote of confidence in Solana's infrastructure for sophisticated financial products. The SWEEP fund is designed to function as a tokenized money-market instrument, bridging traditional finance with the efficiency and transparency of decentralized networks. This collaboration represents a significant milestone, as it brings together a traditional finance giant in State Street, a leading crypto-native firm in Galaxy Digital, and an innovative DeFi protocol in Ondo Finance. The launch on Solana is particularly noteworthy, highlighting the network's growing capability to host institutional-grade, compliant financial vehicles. This development is expected to unlock new avenues for institutional capital, providing a regulated, on-chain entry point into liquidity and money-market strategies. It underscores the accelerating trend of tokenization of real-world assets (RWA) and sets a precedent for future hybrid financial products. For the Solana ecosystem, this partnership serves as powerful validation of its technical performance and its appeal to major financial institutions seeking scalable, low-cost blockchain solutions. The introduction of SWEEP could catalyze further institutional interest and development on Solana, potentially driving increased network activity, value accrual to the SOL token, and a new wave of innovative financial applications built to serve a professional investor base.

Ondo Finance Partners with State Street and Galaxy to Launch Tokenized Liquidity Fund on Solana

Ondo Finance has teamed up with State Street Investment Management and Galaxy Digital to introduce the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized private liquidity fund. The fund is set to debut on Solana early next year, marking a significant step in institutional adoption of blockchain-based financial instruments.

SWEEP will function as a tokenized money-market instrument, enabling institutions to manage short-duration liquidity on-chain while maintaining exposure to State Street-managed assets. Ondo's flagship tokenized fund, OUSG, will serve as the lead anchor investor, leveraging SWEEP to diversify reserves and enhance 24/7 liquidity access for OUSG holders.

The collaboration underscores growing institutional interest in tokenization, with OUSG's portfolio now spanning funds from major asset managers including BlackRock, Fidelity, and Franklin Templeton. Solana's selection as the launch platform highlights its emerging role in institutional-grade blockchain solutions.

Solana's Firedancer Validator Goes Live, Boosting Transaction Speeds

Solana's highly anticipated Firedancer validator client has launched on mainnet after three years of development and extensive testing. The upgrade, announced by Jump Crypto's Kevin Bowens during Solana Breakpoint in Abu Dhabi, promises to significantly enhance the network's transaction processing capacity.

Firedancer has already produced 50,000 blocks during its 100-day limited rollout. The validator client represents a major step toward decentralization, joining existing options like Agave, Frankendancer, and Jito. Its implementation could push Solana's throughput toward 1 million transactions per second.

The launch follows months of testnet trials and gradual mainnet adoption by select validators. As Firedancer's usage expands across Solana's validator set, developers anticipate improved performance for decentralized applications requiring high-speed settlements.

Kamino Rebrands and Expands DeFi Offerings with Institutional Focus on Solana

Kamino Lending, a rising DeFi protocol on Solana, unveiled a strategic rebrand and six new products during the Solana Breakpoint event in Abu Dhabi. The platform is pivoting from crypto lending to a broader suite of services, including real-world asset (RWA) tokenization, reflecting the sector's growth over the past year.

The protocol, which previously amassed $2.59B in total value locked by accepting meme tokens as collateral, is now targeting institutional users. This shift comes as Solana seeks to capture a larger share of DeFi liquidity and Kamino aims to bridge traditional finance with on-chain asset tokenization.

Kamino's expansion includes an institutional-grade developer kit and loan products, signaling a maturation of its offerings. The MOVE aligns with Solana's broader push to attract enterprise adoption while navigating the volatility of meme-driven retail markets.

Jupiter Unveils JupUSD Stablecoin and Major Solana Ecosystem Upgrades

Jupiter has announced seven coordinated platform upgrades at Breakpoint, headlined by the launch of JupUSD, a new stablecoin developed in collaboration with Ethena. This stablecoin will integrate across the entire Jupiter ecosystem, enabling rewards during DCA orders, limit orders, and prediction market participation.

The decentralized exchange, which has processed $1.08 trillion in combined spot and perpetuals volume year-to-date with $2.7 billion in total value locked, positions these upgrades as solutions to fragmented data, fraudulent assets, and the lack of professional-grade tools needed for institutional adoption.

JupUSD launches next week with DEEP protocol-level integration, leveraging Jupiter's existing infrastructure to handle billions in stablecoin volume via swap aggregation and perpetuals. Controlling both the dollar and the transaction platform creates synergies across use cases, fostering a self-reinforcing flywheel effect.