BitGo partners with BNY Mellon to launch BLIQUID money market fund

BNY Mellon, the 240-year-old bank that safeguards more assets than most countries produce in a decade, just took another step into digital assets. The firm has launched BLIQUID, a digitally native money market fund represented by blockchain-based tokens, in partnership with BitGo. The fund targets eligible institutional clients in the US and UK, with plans to expand further. What BLIQUID actually is BLIQUID tokens represent shares in a money market fund created through BNY Investments Dreyfus, the bank’s established fund management arm. Instead of holding traditional fund shares recorded on legacy systems, institutional investors can now hold tokenized versions that live on a blockchain. BNY Mellon built this on top of its global digital transfer agency capabilities, which provide the infrastructure for issuing and tracking these tokenized shares. The system is designed to handle on-chain settlement while maintaining the compliance and custody standards that institutional investors expect from a bank that services approximately $8.6 trillion in assets and over 7.6 million investor accounts. BitGo, the digital asset infrastructure firm known for its custody and wallet solutions, is ...