Goldman, BNY Launch $7.1T Blockchain Venture in Money Market Funds

- Institutional clients gain access to tokenized money market funds via a new blockchain platform. - The system facilitates 24/7 trading, faster settlements, and reduced market inefficiencies. On July 23, 2025, Goldman Sachs and BNY Mellon unveiled a platform to tokenize the $7.1 trillion money market fund sector. This innovative initiative leverages blockchain technology to modernize financial transactions, offering institutional investors faster settlements and round-the-clock trading. The platform operates on Goldman Sachs' proprietary blockchain, GS DAP®, to record fund ownership, which enhances flexibility and convenience for clients. In addition, major players like BlackRock, Fidelity Investments, and Federated Hermes are participating in the ecosystem. Their involvement signals widespread industry confidence in this digital transformation. BNY Mellon's LiquidityDirect platform complements the collaboration, enabling clients to subscribe to tokenized money market funds. While GS DAP® converts fund values into "mirrored" tokenized assets, BNY Mellon maintains the official records. This innovation supports instantaneous transfers and positions the tokenized funds as collateral for transactions, giving institutional investors a yield-generating alternative to stablecoins. Both Goldman Sachs and BNY Mellon regard this development as essential to expanding the digital financial ecosystem, as the initiative improves efficiency, transparency, and returns in tokenized money market funds. This marks a significant step toward modernizing the global financial system. On July 23, CoinMarketCap reported that as of 12:00 UTC, Bitcoin (BTC) was trading at $31,672, while its 24-hour trading volume had increased by 3.6%.