State Street launches GENIUS-compliant money market fund for stablecoin issuers
The Block·
60-second summary
State Street is launching SSCXX, a Rule 2a-7 government money market fund that invests in cash and yield-bearing cash equivalents, compliant with the GENIUS framework. This fund is designed for stablecoin issuers, providing a secure and stable place to hold assets. SSCXX aims to offer a low-risk investment option for stablecoin issuers, promoting stability in the digital asset market.
SSCXX is a Rule 2a-7 government money market fund, a conservative type of fund that invests only in cash and yield-bearing cash equivalents.