State Street and Galaxy Launch Tokenized SWEEP Fund on Solana

The private liquidity fund accepts PYUSD and USDC subscriptions from eligible Qualified Purchasers and targets 24/7 onchain cash management.

• State Street and Galaxy have launched a tokenized liquidity fund on Solana, targeting institutional investors for cash management and U.S. Treasury exposure.
• The fund, SWEEP, accepts subscriptions in PYUSD, USDC, and USD, offering 24/7 onchain redemptions for PYUSD and daily for USD.
• Key infrastructure providers include Galaxy for tokenization, Anchorage for custody, and Chainlink for NAV publication, with future integrations planned for Stellar and Ethereum.

Topics: Asset types, Infrastructure providers, Institutional adoption, Financial instruments, Tokenization platforms, Major financial incumbents, Custody security solutions, Asset manager initiatives, Banking depository pilots

Tags: #statestreet #galaxy #solana #tokenizedfund #ustreasuries #pyusd #usdc #cashmanagement #institutionalinvestors #onchainliquidity

Read more

Ex-Blackstone team launches tokenized private-credit fund on Superstate

Valinor Digital, founded by two former Blackstone private credit executives, has launched the Valinor BDC Exposure Fund, a tokenized fund that holds a basket of publicly traded business development companies (BDCs). The…

• Valinor Digital, founded by ex-Blackstone executives, has launched a tokenized private credit fund (Valinor BDC Exposure Fund) on Superstate's platform.
• The fund holds publicly traded Business Development Companies (BDCs) and offers daily subscriptions/redemptions, aiming to provide private credit returns with enhanced on-chain liquidity.
• This initiative targets a niche in credit markets, leveraging tokenization to offer greater efficiency and access for investors in traditionally illiquid private credit.

Topics: Asset types, Infrastructure providers, Institutional adoption, Private credit debt funds, Tokenization platforms, Asset manager initiatives

Tags: #valinordigital #blackstone #tokenizedprivatecredit #bdcexposurefund #superstate #fundos #realeconomycredit #qualifiedpurchasers #onchainliquidity #247settlement

Read more

Shinhan Targets $30 Trillion RWA Boom with KRW Tokenized Fund on Solana

Key Takeaways: Shinhan Asset Management is also creating a KRW-stablecoin-based tokenized fund on the Solana blockchain. The project follows Bla | Bitget crypto news!

• Shinhan Asset Management is developing a KRW-stablecoin-based tokenized fund on the Solana blockchain, mirroring BlackRock's BUIDL fund model.
• The initiative involves a partnership with Solana Foundation, Etherfuse, and Orca to build infrastructure and test the entire lifecycle of a tokenized fund ahead of South Korea's STO framework implementation.
• This project highlights Solana's growing role in institutional tokenization and the increasing global competition in the tokenized asset market.

Topics: Asset types, Infrastructure providers, Institutional adoption, Stablecoins digital cash, Tokenization platforms, Asset manager initiatives

Tags: #shinhanassetmanagement #solana #krwtokenizedfund #institutionalinvestors #stoframework #blackrockbuidlfund #etherfuse #orca #proofofconcept #onchainliquidity

Read more