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State Street, Galaxy launch SWEEP tokenized liquidity fund on Stellar
SWEEP is a private liquidity fund issued by State Street Investment Management and tokenized by Galaxy.
The State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized private liquidity fund from State Street Investment Management and Galaxy, is now live on the Stellar network as an onchain cash management solution for eligible investors, according to a Tuesday announcement.
State Street and Galaxy launched SWEEP in May 2026 on Solana. The private vehicle is available to Qualified Purchasers and is designed to connect traditional cash management with onchain markets.
The fund supports 24/7 subscriptions and redemptions in stablecoins like PayPal’s PYUSD or Circle’s USDC, subject to their availability in the portfolio. USD transactions are also supported through Fedwire on business days, giving institutions an alternative to traditional fiat on-ramps when accessing tokenized cash products.
On Stellar, SWEEP is issued through a smart contract that combines programmable asset functionality with the network’s issuer controls for authorization, freezing and clawbacks. The structure is designed to allow cash management outside traditional banking hours and settlement windows.
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Galaxy provides tokenization and distribution, while Anchorage handles digital asset custody, Chainlink supports fund pricing and reserve data, NAV Consulting serves as transfer agent and State Street Bank and Trust Company holds the fund’s securities.