JPMorgan Chase Says ‘Significant Leap Forward’ Underway for Tokenized Money Market Funds Amid Goldman and BNY Partnership: Report

Description

Analysts at the financial giant JPMorgan Chase think Goldman Sachs’ new partnership with BNY is a “significant leap forward” for tokenized money market funds, according to a new Bloomberg report. Goldman and BNY recently announced a joint venture to launch tokenized money market fund services using a blockchain developed by Goldman. BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management all plan to participate in the launch of the new servic...