Goldman Sachs and BNY Mellon are launching a platform enabling hedge funds, pension funds, and corporate treasurers to invest in tokenized money market funds. These funds are positioned as a lucrative alternative to stablecoins, facilitating efficient transactions.
With support from firms like BlackRock and Fidelity, the initiative showcases significant market potential. A network test performed in March 2024 revealed improvements in transaction efficiency, involving multiple asset managers and financial institutions.
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