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Goldman Sachs and BNY Mellon Collaborate to Develop Tokenized Money Market Product
The two financial giants BNY Mellon and Goldman Sachs are collaborating to develop a tokenized money market fund (MMF) product. The goal is to enhance the utility and transferability of MMF shares, moving towards a more digital and real-time financial system.
Unlock the utility and transferability of assets
This product will allow fund managers to register to purchase shares #MMF through the Liquidity Direct platform and BNY's digital assets, which will then be reflected with corresponding tokens on Goldman Sachs' Digital Asset Platform (DAP).
Unlock the utility and transferability of assets
This product will allow fund managers to register to purchase shares #MMF through the Liquidity Direct platform and BNY's digital assets, which will then be reflected with corresponding tokens on Goldman Sachs' Digital Asset Platform (DAP).
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Tokenized bonds exceed $8.6 billion as banks begin to use them as collateral.
The tokenized US government bond market has entered a new phase of development. Their total market capitalization has exceeded $8.63 billion, and financial institutions have begun using these assets not only to generate income but also as collateral in lending and repo transactions.
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The Federal Reserve is about to cut interest rates, and over $7 trillion in MMF funds may flow into the stock and cryptocurrency markets.
According to data released by the Investment Company Institute on September 3, the size of U.S. money market funds (MMF) has reached a historical high of $7.26 trillion.
Market analysts believe that once the Federal Reserve begins to cut interest rates, a portion of this massive amount of funds may flow into the stock and cryptocurrency markets, thus driving a new round of increases in crypto assets.
David Duong, head of research at Coinbase, stated in a media interview that there are over $7 trillion in retail funds in the current money market funds. As the implementation of the interest rate reduction policy approaches, these retail funds may shift towards stocks, cryptocurrencies, and other asset classes.
His viewpoint has also been supported by market participants. Cresset's chief strategist, Jack Ablin, further pointed out that if money market yields fall below 4%, it would encourage investors to shift cash into stocks and cryptocurrencies in search of higher returns.
Additionally, according to the Federal Reserve watch tool from the Chicago Mercantile Exchange (CME), the market generally expects the Federal Reserve to lower the target interest rate by at least 25 basis points at next week's meeting, with an 11.8% probability that the rate cut could reach 50 basis points.
Overall, with over $7 trillion in retail funds in the current U.S. money market funds, any reduction in interest rates may partially flow into the crypto market in search of higher returns.
Moreover, the Federal Reserve's shift in monetary policy, especially the upcoming interest rate cuts, is also expected to become an important catalyst for the crypto market.
In summary, the movement of funds in money market funds and the Federal Reserve's shift in monetary policy are becoming key macro factors influencing crypto asset prices.
#MMF #美联储
According to data released by the Investment Company Institute on September 3, the size of U.S. money market funds (MMF) has reached a historical high of $7.26 trillion.
Market analysts believe that once the Federal Reserve begins to cut interest rates, a portion of this massive amount of funds may flow into the stock and cryptocurrency markets, thus driving a new round of increases in crypto assets.
David Duong, head of research at Coinbase, stated in a media interview that there are over $7 trillion in retail funds in the current money market funds. As the implementation of the interest rate reduction policy approaches, these retail funds may shift towards stocks, cryptocurrencies, and other asset classes.
His viewpoint has also been supported by market participants. Cresset's chief strategist, Jack Ablin, further pointed out that if money market yields fall below 4%, it would encourage investors to shift cash into stocks and cryptocurrencies in search of higher returns.
Additionally, according to the Federal Reserve watch tool from the Chicago Mercantile Exchange (CME), the market generally expects the Federal Reserve to lower the target interest rate by at least 25 basis points at next week's meeting, with an 11.8% probability that the rate cut could reach 50 basis points.
Overall, with over $7 trillion in retail funds in the current U.S. money market funds, any reduction in interest rates may partially flow into the crypto market in search of higher returns.
Moreover, the Federal Reserve's shift in monetary policy, especially the upcoming interest rate cuts, is also expected to become an important catalyst for the crypto market.
In summary, the movement of funds in money market funds and the Federal Reserve's shift in monetary policy are becoming key macro factors influencing crypto asset prices.
#MMF #美联储
$MM 🌟 MMF (MOMOFUN) - The Crypto Storm Star! 🌟
💥 Explosion alert! MMF at $0.0043763, surging +109.23% in 24 hours! With a market cap of $34.14M and liquidity of $1.52M, it’s setting the market ablaze! 📈 The chart signals a strong trend, my prediction: if this pace continues, it could hit $0.006! 🚀
🎯 Golden Advice: Hold tight and turn it into long-term gold - this could be your big break! ✨
#MMF #CryptoStorm #BinanceRocket #HoldTheGain #CryptoTrend
💥 Explosion alert! MMF at $0.0043763, surging +109.23% in 24 hours! With a market cap of $34.14M and liquidity of $1.52M, it’s setting the market ablaze! 📈 The chart signals a strong trend, my prediction: if this pace continues, it could hit $0.006! 🚀
🎯 Golden Advice: Hold tight and turn it into long-term gold - this could be your big break! ✨
#MMF #CryptoStorm #BinanceRocket #HoldTheGain #CryptoTrend
$MM 🎉 MMF (MOMOFUN) - The Mega Crypto Storm! 🎉
💥 Boom! This chart will blow your mind - MMF at $0.0037534, blasting +79.75% in 24 hours! With a market cap of $29.28M and liquidity of $1.43M, it’s setting the market on fire! 🔥 My prediction: If this pace continues, expect an explosive jump to $0.005! 🚀
🎯 Golden Tip: Hold tight, turn it into long-term gold - this could be your life-changing moment! 🌟
#MMF #CryptoMania #BinanceBlast #HoldToWin #CryptoRocket
💥 Boom! This chart will blow your mind - MMF at $0.0037534, blasting +79.75% in 24 hours! With a market cap of $29.28M and liquidity of $1.43M, it’s setting the market on fire! 🔥 My prediction: If this pace continues, expect an explosive jump to $0.005! 🚀
🎯 Golden Tip: Hold tight, turn it into long-term gold - this could be your life-changing moment! 🌟
#MMF #CryptoMania #BinanceBlast #HoldToWin #CryptoRocket
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