State Street, Galaxy to Launch Tokenized Money Market Fund

Ondo Finance, State Street Investment Management, and Galaxy Asset Management, an affiliate of Galaxy Digital Inc. announced plans to launch SWEEP—the State Street Galaxy Onchain Liquidity Sweep Fund—a tokenized liquidity fund designed to bring traditional cash management onchain. As part of the launch, Ondo Finance’s OUSG fund intends to serve as the lead anchor investor. This planned allocation would further diversify OUSG’s reserves and expand the depth of its 24/7 stablecoin liquidity for investors. SWEEP is targeting a debut on Solana in early 2026. According to a story in MarketsMedia n ews, OUSG was introduced in 2023 as one of the first onchain offerings providing investors with seamless, tokenized exposure to U.S. Treasuries and rapid convertibility into stablecoins.