State Street and Galaxy to Launch $200M Tokenized Liquidity Fund on Solana

The global asset manager and crypto firm plan to debut the SWEEP fund in early 2026, using PayPal USD (stablecoin) for onchain subscriptions and redemptions.

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Summary

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Terms & Concepts
  • Tokenized Liquidity Fund: An investment fund represented as blockchain-based tokens, allowing onchain transactions and potentially increasing accessibility.
  • PayPal USD (PYUSD): A U.S. dollar-denominated stablecoin issued by PayPal, designed for digital payments and blockchain-based transfers.
  • Solana: A high-performance blockchain known for fast transactions and low fees, often used in decentralized finance and NFT applications.