Goldman Sachs and BNY join forces to transform $7.1 trillion money market industry with digital tokens

A screen displays the the company logo for Goldman Sachs on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 7, 2025. Goldman Sachs and Bank of New York Mellon are set to announce that they've created the ability for institutional investors to purchase tokenized money market funds, CNBC has learned. Clients of BNY, the world's largest custody bank, will be able to invest in money market funds whose ownership will be recorded on Goldman's blockchain platform, according to executive ...