The new fund combines traditional asset management with Solana, a high-speed blockchain network, in another example of tokenized finance moving onto public blockchain infrastructure.
State Street and Galaxy have launched the SWEEP tokenized liquidity fund on Solana, a blockchain designed for fast and low-cost transactions. The announcement points to continued expansion of tokenization, the process of representing traditional financial assets on a blockchain, as large financial firms test public networks for fund-related products. The move links established financial institutions with crypto-native infrastructure and highlights how blockchain-based fund structures are being used to improve transferability, settlement efficiency, and on-chain access to cash-management style products.