{"id":5556,"date":"2025-07-23T14:58:14","date_gmt":"2025-07-23T14:58:14","guid":{"rendered":"https:\/\/bitunikey.com\/news\/goldman-sachs-bny-mellon-launch-tokenized-money-market-funds-on-blockchain\/"},"modified":"2025-07-23T14:58:28","modified_gmt":"2025-07-23T14:58:28","slug":"goldman-sachs-bny-mellon-launch-tokenized-money-market-funds-on-blockchain","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/goldman-sachs-bny-mellon-launch-tokenized-money-market-funds-on-blockchain\/","title":{"rendered":"Goldman Sachs, BNY Mellon launch tokenized money market funds on blockchain"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Goldman Sachs and Bank of New York Mellon teamed up to put money market funds on the blockchain. <\/p>\n<div id=\"cn-block-summary-block_8b671e6c72bc3e7e0b2e17fdfa89b59b\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Goldman Sachs and BNY Mellon are putting money market funds on chain<\/li>\n<li>Tokens on Goldman Sachs\u2019 platform will track client ownership <\/li>\n<li>BlackRock, Fidelity, and Federated Hermes will participate in the launch<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Major financial institutions are increasingly tapping into the potential of blockchain and asset tokenization. On Wednesday, July 23, the Bank of New York Mellon and Goldman Sachs <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/newsroom\/company-news\/bny-and-goldman-sachs-launch-tokenized-money-market-funds-solution.html\" target=\"_blank\">announced<\/a> a partnership to tokenize money market funds. <\/p>\n<p>Specifically, BNY Mellon money market funds will now have their digital versions on Goldman Sachs\u2019s blockchain system. These \u201cmirror tokens\u201d will enable the financial giant to maintain a record of customers\u2019 ownership. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">BlackRock, Fidelity, and Federated Hermes to join launch<\/h2>\n<p>This will be the first time that major financial institutions will be able to purchase shares in money market funds through the blockchain, via BNY Mellon\u2019s LiquidityDirect platform. BlackRock, Fidelity, and Federated Hermes will participate in the initial launch of the platform.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions that shape the future of finance,\u201d said Laide Majiyagbe, Global Head of Liquidity, Financing and Collateral at BNY.<\/p>\n<\/blockquote>\n<p>Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, explained that tokenizing these funds will enable institutions to use them as real-time collateral. He added:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cUsing tokens representing the value of shares of Money Market Funds on GS DAP\u00ae would enable us to unlock their utility as a form of collateral and open up more seamless transferability in the future.\u201d<\/p>\n<\/blockquote>\n<p>Money market funds are a major asset class, currently valued at <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ici.org\/news-release\/money-market-funds-hit-seven-trillion\" target=\"_blank\">over $7 trillion<\/a>. Its adoption of asset tokenization could signal a broader industry shift toward leveraging blockchain tech.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs and Bank of New York Mellon teamed up to put money market funds on the blockchain. Summary Goldman Sachs and BNY Mellon are putting money market funds on&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5556"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5556\/revisions"}],"predecessor-version":[{"id":5558,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5556\/revisions\/5558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5557"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}