According to Foresight News , financial services provider State Street announced at the Accelerate USA conference a partnership with Galaxy to launch SWEEP, a tokenized private on-chain liquidity fund.
SWEEP provides issuance and management services through Galaxy's digital infrastructure. The fund aims to enable stablecoin holders to convert their stablecoins into yield-generating assets. SWEEP launches on the Solana blockchain and plans to integrate with other blockchains, including Stellar and Ethereum. Anchorage acts as the digital custodian of the fund's stablecoin investments, NAV Consulting acts as the transfer agent, Galaxy uses Chainlink NAVLink to publish the fund's daily net asset value on-chain, and utilizes Chainlink CCIP for secure cross-chain interoperability. State Street Bank and Trust Company acts as the custodian of the fund's securities holdings.
