State Street and Galaxy launch the SWEEP fund to convert stablecoins into yield-bearing assets
By: rootdata|2026/05/06 20:45:04
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State Street has partnered with Galaxy to launch the on-chain liquidity fund SWEEP, allowing investors to "one-click transfer" stablecoins into yield-bearing tokenized assets, achieving 24/7 on-chain cash management.
The fund will initially be deployed on Solana, with plans to expand to Stellar and Ethereum in the future, and integrate infrastructure such as Chainlink. SWEEP is aimed at qualified investors and is positioned similarly to BlackRock's BUIDL and other products, providing bond-like yields through an on-chain structure, representing the latest exploration of the integration of traditional asset management and blockchain.
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