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State Street and Galaxy to Launch $200M Solana-Based Fund Using PYUSD Stablecoin

Ondo Finance will seed the early 2026 fund, which will expand to Stellar and Ethereum with Chainlink-powered cross-chain support.

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Summary

State Street and Galaxy Asset Management plan to introduce the State Street Galaxy Onchain Liquidity Sweep Fund in early 2026. The fund will utilize PYUSD stablecoin for subscriptions and redemptions, beginning on the Solana blockchain. Ondo Finance will seed $200 million into the project, with plans to later expand operations to Stellar and Ethereum blockchains, leveraging Chainlink’s cross-chain interoperability capabilities.

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, to reduce price volatility.
  • Cross-chain support: Technology that enables blockchain networks to communicate and transfer data or assets between each other.
  • Chainlink: A decentralized oracle network that connects smart contracts to real-world data and external systems.