Galaxy Digital, a digital asset investment firm led by Mike Novogratz, is preparing to launch a tokenized money market fund that will be launched on the Ethereum, Solana, and Stellar blockchains in the coming months.
According to people familiar with the matter, Anchorage Digital will act as the custodian of the fund. Galaxy Digital's move is designed to bring more crypto-native products to the market to complement tokenized funds launched by traditional Financial Institution Group such as BlackRock's BUIDL, which has a market cap of about $2.20 billion, and Franklin Templeton's BENJI.
A representative for Galaxy Digital declined to comment on the fund, which will focus on providing instant liquidity through tokenization technology and will learn from existing products to optimize customer engagement.
Galaxy Digital plans to launch a multi-chain tokenized money market fund
2025-09-16 16:19:54
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