- So, Goldman Sachs and BNY decided to jump into the world of tokenized funds for “faster” global settlements. Who knew faster could be even faster? 🤷♂️
- Guess what? Clients can soon invest in these funds using Goldman’s private blockchain. Because public ones just don’t cut it anymore! 😂
- And look out! The big shots like BlackRock and Fidelity are joining this shiny new game of tokenization. Who doesn’t love a good tech buzzword? 🤔
The two titans of finance, Goldman Sachs and BNY, are rolling out a flashy new plan to offer tokenized money market funds. Apparently, this could lead us to a world with quicker settlements, 24-hour trading, and, I don’t know, a financial utopia where people actually communicate? How refreshing! 😏
Clients Can Buy Money Funds on New Private Blockchain—Wait, What?
On Wednesday, BNY made a statement that clients will soon be able to dive into these money market funds via a custom private blockchain developed by Goldman Sachs. Ownership records now in a blockchain? Quite the leap from good ol’ conventional systems, huh? Buckle up, folks—billions of dollars are about to flow differently! 💸
This trend is brought to us by BNY’s LiquidityDirectSM and Digital Assets platform. Now investors can subscribe and redeem money market fund shares. Sounds fancy, right? But who reads the fine print? 📜
To kick things off, they’ve got some heavyweights in finance, like BlackRock, BNY Investment Dreyfus, and Fidelity. They’re basically saying, “Let’s explore this new tech.” Is it so revolutionary, or is it just going to end up being another flashy Instagram filter for finance? 🤨
Laide Majiyagbe, head of BNY’s global liquidity effort, confidently states that this is just the tip of the iceberg. Exciting, or is it just a clever way of saying, “We’re still figuring this out”? 🤔
Goldman Sachs doesn’t shy away from sharing this ambitious vision either. Mathew McDermott from Digital Assets says tokenization opens doors for future fun—like using these shares as collateral. And who wouldn’t want to trade a bunch of numbers like it’s Monopoly money? 😂
Crypto Gains Support as Big Ideas Get Even Bigger!
BNY will still handle formal records and settlements. So, no worries about breaking any sacred rules, folks. And the blockchain layer? Perfect for bringing in the new while the old clings on for dear life. Seems about right! 🙄
According to the so-called experts, tokenization could eventually change the game for investors. Supporters say it democratizes markets, giving everyday folks a shot at investment opportunities. Because let’s face it, everyone wants a piece of the pie—especially if it’s got whipped cream on top! 🥧
Meanwhile, crypto markets are buzzing again, thanks to the recent passing of the Genius Act. Just what we needed: another reason to throw money into digital chaos. 🎉
Of course, critics warn that tokenization could allow firms to sidestep important investor protections. Because, hey, who doesn’t love a loophole or two? 😏
Nonetheless, titans like Goldman Sachs and BNY are betting big on this concept. Their tokenized money market funds might just signal that Wall Street is ready to embrace blockchain—like it or not! And trust me, the world is watching this instead of their regular reality shows. 🤦♂️
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2025-07-24 03:15