Goldman Sachs and BNY Mellon Pioneer U.S. Tokenized Money Market Funds

Wall Street giants Goldman Sachs and BNY Mellon made financial history on July 23, 2025, launching the first tokenized money market funds in the United States. The breakthrough follows President Trump's signing of the GENIUS Act on July 18, which established federal stablecoin regulations.

The collaboration leverages BNY Mellon's LiquidityDirect platform and Goldman Sachs' Digital Asset Platform to enable real-time blockchain settlement. Institutional investors can now trade fund shares instantly and use them as collateral without liquidation—a first for U.S. fund managers.

Industry heavyweights including BlackRock, Fidelity, and Federated Hermes have joined the initiative, signaling broad institutional adoption of blockchain-based financial products. The MOVE represents a watershed moment for tokenization of traditional assets.