Goldman Sachs introduces its $100 billion Treasury fund to institutional crypto firms via the Lynq network, enhancing access without tokenization.
Goldman Sachs is expanding its financial services by making its $100 billion Treasury fund accessible to institutional cryptocurrency firms through a new distribution method.
The fund, known as FTIXX, will be available via the Lynq settlement network, which is designed for digital asset companies. This marks a significant move as FTIXX becomes the first external fund offered on Lynq, which previously featured only one investment product.
Unlike BlackRock’s and Franklin Templeton’s tokenized funds, Goldman Sachs is opting not to create a tokenized version of FTIXX. Instead, the fund will integrate into existing workflows used by crypto firms, allowing them to invest cash between trades for yield until they need to reallocate the funds.
Lynq's CEO, Jerald David, highlighted the growing convergence between traditional finance and the digital asset space, stating, “We’re witnessing a convergence between traditional market participants and those in the digital asset space.” This integration allows clients to earn returns on their cash rather than letting it remain idle.
To facilitate this integration, Lynq had to adapt its technology and impose certain access restrictions, including ensuring clients have a relationship with tZERO Securities, the SEC-registered broker-dealer executing trades on the platform. Currently, Lynq has onboarded over 30 institutional digital-asset firms managing more than $89 million in assets.
David noted that the decision to offer FTIXX was in response to client demand for treasury assets with favorable yield profiles, showcasing Lynq's commitment to providing tailored financial solutions for its users.
