What is the new SWEEP fund by Ondo Finance?

SWEEP is a tokenized private liquidity fund created by Ondo Finance in partnership with State Street and Galaxy Digital, aiming to bring cash management on-chain.

When will Ondo's SWEEP fund launch on Solana?

The SWEEP fund is planned to debut on the Solana network in early 2026.

Who are the partners behind the SWEEP tokenized fund?

The SWEEP fund is a collaboration between Ondo Finance, State Street Investment Management, and Galaxy Asset Management.

Home / Business and Economy / Ondo, State Street Launch Tokenized Fund

Ondo, State Street Launch Tokenized Fund

13 Dec

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Summary

Ondo Finance, State Street, and Galaxy Digital are launching SWEEP.
The new fund will use Galaxy's infrastructure to tokenize cash management.
SWEEP is set to launch on Solana in early 2026.

Ondo, State Street Launch Tokenized Fund

Ondo Finance has partnered with State Street Investment Management and Galaxy Asset Management to introduce SWEEP, a new tokenized private liquidity fund. This initiative is designed to integrate traditional cash management practices with blockchain technology through Galaxy's tokenization infrastructure.

Set to launch on Solana in early 2026, SWEEP will feature Ondo's OUSG fund as its primary investor, with a planned investment of around $200 million. This collaboration aims to enhance the 24/7 liquidity network of OUSG, expanding its reach significantly.

State Street Bank and Trust Company will manage the treasury assets for the fund, which will offer investors round-the-clock access to their cash balances via PayPal's stablecoin, PYUSD. The fund's infrastructure will be powered by Galaxy's digital capabilities for token issuance and management, with plans to expand to Stellar and Ethereum using Chainlink's cross-chain protocol post-Solana rollout.