BNY and Goldman Launch Blockchain-Based Fund Tokens
Two of Wall Street’s financial giants are taking a leap into tokenization.
Goldman Sachs and BNY have partnered to digitize shares of money market funds (MMFs), allowing institutional investors to transact on-chain while maintaining exposure to traditional financial assets.
Through BNY’s LiquidityDirect platform, investors can now trade MMF shares with a blockchain-based mirror of ownership managed via Goldman’s GS DAP® system. This innovation aims to streamline fund operations, enable real-time ownership tracking, and eventually expand the use of these tokenized shares as collateral.
The project is launching with backing from industry heavyweights such as BlackRock, Fidelity, Federated Hermes, and Goldman Sachs Asset Management, signaling strong institutional support for bringing tokenization into mainstream financial instruments.
BNY’s Laide Majiyagbe described the initiative as a foundational step in shifting towards real-time finance, calling tokenized MMF shares a “bridge” between traditional and digital markets. Meanwhile, Goldman’s Mathew McDermott highlighted the potential of tokenized funds to unlock new collateral use cases and smoother asset transfers in the future.
This step comes amid rising interest in digital assets following recent regulatory clarity. With crypto markets surging—Bitcoin now near $118,000 and Ethereum up over 50% in a month—Wall Street is moving fast to integrate blockchain into the core of its operations.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
