Goldman Sachs Explores Tokenized Money Market Funds for Institutional Investors Amid Blockchain Market Shift
Main Idea
Goldman Sachs and BNY Mellon are exploring tokenized money market funds for institutional investors, leveraging blockchain technology for real-time settlement and fractional ownership, amid a broader industry shift towards blockchain-based capital markets.
Key Points
1. Goldman Sachs and BNY Mellon have launched tokenized money market funds that use blockchain for ownership recording and 24/7 settlement.
2. Tokenized funds offer benefits like real-time settlement and fractional ownership, which traditional money market funds cannot provide.
3. The GENIUS Act's passage impacts tokenized funds by prohibiting interest-bearing funds, distinguishing them from stablecoins.
4. Moody's reports that tokenized short-term funds have accumulated $5.7 billion, highlighting growing institutional adoption.
5. Industry leaders like BlackRock, Fidelity, and Federated Hermes are involved in the initiative, signaling strong institutional interest.
Description
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