BNY-Goldman Tokenized MMF Solution product
Overview
The BNY-Goldman Sachs tokenized money market fund solution is a joint institutional offering announced in July 2025 in which investors subscribe to selected money market funds through BNY's LiquidityDirect and Digital Assets platforms while ownership is mirrored as tokens on Goldman Sachs' GS DAP blockchain platform. BNY acts as shareholder servicer, custodian and tokenization manager, triggering the minting and burning of tokens that mirror share positions recorded on its books. Launch participants included BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management, with a stated longer-term goal of enabling money market fund shares to move as collateral.
Within the DeFi Intel graph, BNY-Goldman Tokenized MMF Solution connects to 8 tracked entities, most strongly to BlackRock, Fidelity, BNY Mellon.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
participates_in | BlackRock | 95% |
participates_in | Fidelity | 95% |
launched | BNY Mellon | 95% |
runs_on | Gs Dap | 95% |
participates_in | BNY Investments Dreyfus | 95% |
participates_in | Goldman Sachs Asset Management | 95% |
integrates | BNY LiquidityDirect | 95% |
participates_in | Federated Hermes | 95% |
Frequently asked questions
What is the BNY-Goldman Tokenized MMF Solution?
The BNY-Goldman Sachs tokenized money market fund solution is a joint institutional offering announced in July 2025 where investors subscribe to selected money market funds through BNY's LiquidityDirect and Digital Assets platforms, while ownership is mirrored as tokens on Goldman Sachs' GS DAP blockchain platform.
What blockchain does the BNY-Goldman Tokenized MMF Solution run on?
The solution runs on Goldman Sachs' GS DAP blockchain platform.
Which asset managers participated in the launch of the BNY-Goldman Tokenized MMF Solution?
Launch participants included BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management.