Goldman Sachs, BNY Mellon Team Up on Blockchain for Money-Market Funds

Key Points

1. The platform connects with BNY Mellon’s LiquidityDirect portal, enabling institutional investors to access tokenized money-market funds via Goldman’s private blockchain.

2. Major asset managers like BlackRock, Fidelity, and Federated Hermes are already participating in the platform.

3. The initiative aligns with the GENIUS Act, which provides regulatory clarity for digital assets in the U.S.

4. The U.S. money-market fund industry, valued at over $7.1 trillion, could see increased efficiency and flexibility through blockchain technology.

5. Goldman Sachs’ Greg Grimaldi highlighted the platform’s ability to facilitate real-time, programmable transfers of fund shares.