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      State Street and Galaxy Launch Tokenized Liquidity Fund on Stellar Network

      State Street Investment Management and Galaxy have introduced the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized private liquidity fund now operational on the Stellar network. This initiative, announced on September 29, 2026, aims to provide an onchain cash management solution for eligible investors, enhancing the connection between traditional cash management and onchain markets.

      Originally launched in May 2026 on the Solana blockchain, SWEEP is available to Qualified Purchasers and facilitates 24/7 subscriptions and redemptions in stablecoins such as PayPal's PYUSD and Circle's USDC, depending on their availability. The fund also supports USD transactions via Fedwire on business days, offering institutions an alternative to conventional fiat on-ramps for accessing tokenized cash products.

      The SWEEP fund utilizes a smart contract on the Stellar network, which integrates programmable asset functionality with issuer controls for authorization, freezing, and clawbacks. This structure allows for cash management beyond traditional banking hours and settlement windows. Galaxy is responsible for tokenization and distribution, while Anchorage provides digital asset custody. Chainlink supports fund pricing and reserve data, and NAV Consulting acts as the transfer agent, with State Street Bank and Trust Company holding the fund's securities.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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