State Street and Galaxy Launch Tokenized Cash Management Fund on Solana

By Isaac • May 5, 2026 11:45 am •

State Street Investment Management and Galaxy Asset Management launched SWEEP on Tuesday, a tokenized private liquidity fund built for around-the-clock onchain cash management through stablecoins. The fund is live on Solana, with Stellar and Ethereum integrations planned.

State Street reported over $5 trillion in assets managed as of March 31, 2026. That makes SWEEP one of the largest traditional asset managers’ first direct deployments of cash-management infrastructure onto a public blockchain.

The fund lets qualified purchasers sweep stablecoin holdings into a yield-bearing asset. Subscriptions and redemptions can be made in PayPal USD (PYUSD), subject to portfolio availability.

Cash management, onchain.

State Street Investment Management and Galaxy today launched SWEEP — a tokenized liquidity fund for