State Street Partners with Galaxy to Launch Tokenized Liquidity Fund

State Street Investment Management has announced a collaboration with Galaxy to introduce a tokenized private chain liquidity fund named SWEEP at the Accelerate USA conference. According to Foresight News, SWEEP utilizes Galaxy's digital infrastructure to offer issuance and management services, aiming to enable stablecoin holders to convert their assets into yield-generating investments. The fund is launched on the Solana blockchain, with plans to integrate additional blockchains such as Stellar and Ethereum. Anchorage serves as the digital custodian for the fund's stablecoin investments, while NAV Consulting acts as the transfer agent. Galaxy employs Chainlink NAVLink to publish the fund's daily net asset value on-chain and uses Chainlink CCIP for secure cross-chain interoperability. State Street Bank and Trust Company is the custodian for the fund's securities holdings.