Goldman Sachs and BNY Mellon Give Companies Access to Tokenized Funds
Date: 2025-07-24 Author: Oliver Abernathy Categories: BLOCKCHAIN
BNY Mellon clients have been given the opportunity to invest in tokenized funds, with ownership rights secured on the Goldman Sachs blockchain platform. Such major market players as BlackRock, Fidelity Investments and Federated Hermes are already involved in the project. Laide Majiyagbe, Head of Liquidity and Collateral at BNY Mellon, notes that the volume of money market assets is about $7.1 trillion, and the introduction of tokenization can significantly accelerate the development of the crypto industry in the country.
According to Majiyagbe, the GENIUS Act, recently signed by President Donald Trump, regulating the use of stablecoins, will be an important factor in the popularization of these digital currencies pegged to the US dollar. At the same time, major financial institutions, including JPMorgan Chase, Citigroup and Bank of America, are already considering integrating stablecoins into their payment systems.
A distinctive feature of tokenized money market funds is the ability to bring investors a stable income, which stablecoins themselves cannot provide, the top manager of BNY Mellon emphasized. Hedge funds, pension funds and large corporations are showing growing interest in such instruments. Tokenization, according to Majiyagbe, facilitates fast and smooth transactions, eliminating the problems that traditional financial markets face.
Matthew McDermott, head of digital assets at Goldman Sachs, added that tokenized money market funds will be traded in real time. Transfers of funds between transaction participants are carried out directly, without the need for preliminary cashing. This significantly increases the speed and convenience of transactions.
In its report filed with the SEC, Goldman Sachs reported that the bank’s investments in Bitcoin-focused spot ETFs grew by 90% in the last quarter of 2024. In addition, in July, Ripple announced that it had selected BNY Mellon as the primary custodian for its Ripple USD (RLUSD) stablecoin reserves.
Thus, large financial institutions continue to expand their presence in the digital asset space, introducing innovative solutions for clients and contributing to the development of the tokenized products market in the United States.
