Goldman, BNY to Open Path for Institutional Investors to Buy Tokenized Money Market Funds, CNBC Reports

By Denny Jacob

• Goldman Sachs and Bank of New York Mellon will announce that they have created the ability for institutional investors to purchase tokenized money market funds, CNBC reports.
• Clients of custody bank BNY will be able to invest in money market funds whose ownership will be recorded on Goldman's blockchain platform, according to the report, citing executives of the two firms.
• The project has already signed up fund titans including BlackRock, Fidelity Investments and Federated Hermes, as well as the asset-management arms of Goldman and BNY, said CNBC.
• The digitized funds could eventually be transferable between financial intermediaries without having to first liquidate funds into cash, according to the report.

Full story at https://www.cnbc.com/2025/07/23/goldman-sachs-bny-money-market-fund-digital-tokens.html

Write to Denny Jacob at denny.jacob@wsj.com