State Street launches GENIUS Act-aligned money market fund for stablecoin reserves
CoinTelegraph·
60-second summary
State Street launches a money market fund aligned with the GENIUS Act, catering to stablecoin reserves, amidst growing competition in the market. This move aims to provide a secure and regulated option for institutions managing assets backing dollar-pegged stablecoins, such as USDC and USDT, which have seen significant growth in recent years, increasing demand for stablecoin management solutions.
The launch comes amid growing competition among financial institutions to manage assets backing dollar-pegged stablecoins.