Goldman Sachs and Bank of New York Mellon have partnered to enable institutional investors to buy tokenized money market funds. Major players like BlackRock and Fidelity are on board. This initiative, leveraging Goldman's blockchain platform, aims to revolutionize the $7.1 trillion money market industry by offering seamless, efficient transactions and potentially streamlining collateral use. The move follows the recent GENIUS Act, promoting the use of stablecoins, and positions tokenized funds as a superior alternative for cash management, offering yields and real-time trading.

Prepared by Christopher Adams and reviewed by editorial team.