Goldman Sachs and BNY Mellon have announced the launch of a joint project aimed at tokenizing money markets using advanced blockchain technology.
Announcement of Collaboration
Goldman Sachs and BNY Mellon announced a joint initiative to tokenize money markets using GS DAP® technology. This announcement was made on July 23, 2025.
Utilization of GS DAP® Technology
The initiative involves the use of Goldman Sachs' proprietary GS DAP® technology on a blockchain infrastructure, highlighting the companies' commitment to innovation in traditional financial mechanisms.
Impact on Institutional Asset Management
The technological initiative is expected to significantly impact institutional asset management, improving settlement and recordkeeping processes for clients such as BlackRock and Fidelity. However, no direct financial transactions, such as mergers or acquisitions, have been announced, emphasizing the project's confinement to a private blockchain for institutional use.
The Goldman Sachs and BNY Mellon initiative to tokenize money markets represents a significant step in the use of digital assets in the banking sector, despite the lack of direct impact on public cryptocurrency markets.
