[State Street and Galaxy to Launch Onchain Liquidity Fund SWEEP, Ondo Expected to Invest $200 Million in Seed Funding] Odaily Planet Daily reports that State Street Investment Management and Galaxy Asset Management have announced the joint launch of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a private onchain liquidity fund that allows subscriptions and redemptions in the PYUSD stablecoin. The fund will provide qualified investors with 24/7 onchain cash management tools in the future. Ondo Finance is expected to invest approximately $200 million as seed funding for the fund. According to the announcement, SWEEP is planned to launch on Solana in early 2026, with subsequent expansion to the Stellar and Ethereum ecosystems. The fund will be custodied by State Street Bank and Trust Company, while Galaxy will provide the underlying onchain infrastructure and tokenization technology, enabling cross-chain interoperability through Chainlink. State Street stated that this product combines its decades-long expertise in tokenization and cash management with Galaxy's technological strengths in Web3 infrastructure, aiming to offer institutional investors a new onchain cash management option. Galaxy noted that SWEEP will redefine how institutions manage liquidity within the DeFi ecosystem. Ian De Bode, President of Ondo Finance, commented that tokenization is gradually becoming a critical bridge connecting TradFi and the onchain economy. This collaboration will accelerate the development of an institutional-grade onchain financial system and create synergies with Ondo's onchain U.S. Treasury products. (Businesswire)