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Stock impact report

Ondo Finance to invest $200M in seed capital for tokenized liquidity fund [Yahoo! Finance]

Galaxy Digital Inc. - Class A common stock (GLXY) 
Company Research Source: Yahoo! Finance
Galaxy Digital (Nasdaq/TSX: GLXY), announced the forthcoming launch of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) on Dec. 10. Popular tokenization platform Ondo Finance is expected to invest $200 million in seed fund into the tokenized private liquidity fund. Related: SEC ends Ondo probe, marking biggest regulatory win yet for tokenization SWEEP will rely on State Street's long experience in cash and liquidity management and Galaxy Digital's expertise in tokenization and digital infrastructure to offer an onchain cash management solution to select investors. SWEEP will unlock the potential for 24/7 onchain liquidity by deploying PayPal USD (PYUSD) stablecoins for subscriptions and redemptions, given it is available from the fund's portfolio, the statement read. Galaxy aims to deploy Chainlink to support cross-chain interoperability so that SWEEP tokens can move across chains. Qualified purchasers meeting eligibility criteria and the minimum investment thr Show less Read more
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