Story perspectives

BNY Mellon and Goldman Sachs Tokenize Money Market Funds

7/23/2025

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Summary

Story summary

BNY Mellon collaborates with Goldman Sachs to tokenize money market funds using blockchain technology.
The platform enables subscription and redemption through BNY’s LiquidityDirect, involving firms like BlackRock and Fidelity.
Future objectives focus on improving collateral mobility and transferability of MMFs.
BNY will keep official records on a permissioned blockchain, with plans for a permissionless system.
This initiative signifies a transition towards a digital financial ecosystem.

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Story summary

BNY Mellon collaborates with Goldman Sachs to tokenize money market funds using blockchain technology.
The platform enables subscription and redemption through BNY’s LiquidityDirect, involving firms like BlackRock and Fidelity.
Future objectives focus on improving collateral mobility and transferability of MMFs.
BNY will keep official records on a permissioned blockchain, with plans for a permissionless system.
This initiative signifies a transition towards a digital financial ecosystem.