The New York Mellon (BNY) and Goldman Sachs (GS) bank deploy tokenized monetary market funds for customers as the adoption of digital assets accelerates.
BNY, which is one of the oldest and most important duty banks in the world, supervising 53 billions of dollars in assets, announced on Wednesday to start offering institutional investors token versions of monetary market sharing classes via its liquiditydirect platform. The property records and transactions are recorded on the Goldman Sachs Digital Asset Platform blockchain. The institutions that have registered include Blackrock, Fidelity, among others.
BNY acts as a shareholder and guardian service for funds, the new role of the tokenization manager, responsible for triggering the strike and combustion of tokens which reflect fund sharing on BNY books, according to the offer website.
“The tokenization stage is important, because today this will allow transparent and effective transactions, without the frictions that occur in traditional markets,” the Lide Majiyagbe told CNBC, the liquidity head, financing and guarantee of BNY.
The tokenized monetary market funds, mainly supported by US government titles, were at the forefront of tokenization efforts, bringing traditional asset classes to blockchain rails.
The US Treasury Treasury Market tokenized exceeded $ 7 billion this year, more than the rod in one year, according to Rwa.xyz data. While increasing rapidly, it is only a fraction of the global market for monetary market funds by 7 billions of dollars.
