Ondo, State Street, Galaxy Digital to Launch SWEEP Fund on Solana in 2026

Ondo Finance has announced a partnership with State Street Investment Management and Galaxy Asset Management to launch SWEEP, a tokenized private liquidity fund set to bring traditional cash management onchain.

SWEEP will debut on Solana in early 2026, leveraging Galaxy’s tokenization infrastructure.
The project’s flagship product, OUSG, plans a $200 million investment, enhancing its 24/7 liquidity network.
Galaxy will manage the issuance and management of SWEEP tokens and plans interoperability expansion with Chainlink, Stellar, and Ethereum.
The fund aims to provide round-the-clock access using PayPal’s stablecoin, PYUSD.
State Street will hold treasury assets through State Street Bank and Trust Company.

OUSG, a $770 million product offering tokenized exposure to US treasuries, will serve as an anchor investor for SWEEP. This move follows the SEC closing its two-year investigation into Ondo Finance's compliance with federal policies. Despite the probe, Ondo maintains a multichain presence across several networks, including Ethereum and Ripple. Recently, the ONDO token experienced a brief rally but is currently trading with a 5% daily loss.