State Street Launches Stablecoin Reserves Money Market Fund

State Street Investment Management (SSIM) has launched a new money market fund called the State Street Stablecoin Reserves Money Market Fund. The fund is designed to meet the unique needs of stablecoin issuers and complies with the GENIUS Act, passed into law in July 2025.

The GENIUS Act creates a clearer regulatory framework for using money market funds registered under the Investment Company Act of 1940 to back stablecoins. The fund is an innovative solution for stablecoin issuers, allowing them to invest their reserves in a secure and reliable way.

State Street Bank and Trust Company and Anchorage Digital, home to the first federally chartered crypto bank in the United States, are initial investors in the fund. SSIM's president and CEO, Yie-Hsin Hung, said that the company's time-tested approach to cash management focuses on principal preservation, liquidity, and income.

According to Anchorage Digital's co-founder and CEO, Nathan McCauley, stablecoins are quickly becoming core financial infrastructure, making the quality and management of their reserves critically important. The fund is expected to grow as the stablecoin market expands, with global issuance projected to reach between $1.9 trillion and $4 trillion by 2030.