Goldman Sachs' short-term U.S. Treasury fund FTIXX will be offered to institutional investors through the crypto corporate payments network Link. Coinpost, a blockchain media outlet, reported on Sept. 29 local time that trade execution will be handled by tZERO Securities, a U.S. Securities and Exchange Commission-registered broker-dealer.

FTIXX is a short-term Treasury fund with about $100 billion in assets. This is the first time Link has introduced an external fund. Through this, Link will provide more than 30 crypto firms serving institutional investors with access to the fund.

A feature of the structure is that Goldman Sachs did not create a new blockchain product. FTIXX kept its traditional fund format and added Link as a new distribution channel.

This differs from BlackRock's tokenised fund BUIDL and Franklin Templeton's BENJI. Those products directly issue and manage holding records as digital tokens on a blockchain, but FTIXX opened access only through Link while keeping the existing fund format without putting holding records on a blockchain.

Link limited its service to U.S. customers and integrated Mosaic with its system. Companies using the service must sign a contract with tZERO Securities and pass a set review process.

Link is a permissioned network that runs on the Avalanche blockchain. More than 30 crypto firms serving institutional investors, including B2C2, Wintermute and Galaxy, participate, and assets exceed $89 million.

Crypto firms using Link can earn returns by investing funds in FTIXX instead of keeping money in cash between trades. They can also withdraw immediately when needed. Gerald David (제럴드 데이비드), Link's chief executive officer, explained that clients have wanted Treasury assets with return characteristics different from existing products.