Anchorage Digital now handles subscriptions, redemptions, custody, and settlement for the State Street Galaxy tokenized fund. Margin financing is next.
Alpha Score of 68 reflects moderate overall profile with strong momentum, moderate value, moderate quality, moderate sentiment.
Anchorage Digital said its Prime platform now handles subscriptions, redemptions, custody, and settlement support for the State Street Galaxy Onchain Liquidity Sweep, known as SWEEP. The service gives institutional participants a regulated path to move stablecoins in and out of the tokenized money market fund.
The company said the expanded role addresses a gap in tokenized asset infrastructure. Many such projects focus on issuance and custody. Institutions need integrated settlement and working capital options before deploying at scale, Anchorage Digital noted.
SWEEP transactions between institutional counterparties can now settle through Anchorage's Atlas Settlement Network. That network operates under Anchorage Digital Bank N.A., a regulated trust bank. Atlas supports settlement while helping institutions manage operational workflows and reduce counterparty exposure, the company stated.
Custody is another piece. Institutions holding SWEEP through Anchorage Digital Bank can keep the asset alongside spot crypto positions and derivatives exposures. According to the announcement, SWEEP functions as a reward-generating reserve asset inside those accounts, giving institutions an alternative to idle cash balances.
Anchorage Digital also disclosed plans to introduce margin financing backed by tokenized reserve assets, including SWEEP. The offering remains under development. Once live, eligible institutions can access working capital while maintaining their SWEEP positions. Access will be limited to entities that qualify as Eligible Contract Participants, the company said.
The development ties into broader infrastructure moves for tokenized funds. SWEEP itself was built through a collaboration between State Street and Galaxy. The new operating layer from Anchorage Digital adds settlement and financing capabilities alongside custody, pushing the product closer to the workflows institutions expect from traditional money market funds. For State Street, the announcement signals that its onchain liquidity product now has a clearer operational path for institutional users. For Anchorage, it expands the utility of its bank charter beyond basic crypto custody into multi-asset settlement and lending. The margin financing piece, if delivered on schedule, would allow firms to put tokenized money market shares to work as collateral without selling them, a feature that competing platforms are still building.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.