BNY is launching the BNY Dreyfus Stablecoin Reserves Fund (BSRXX), a new money market product designed to help stablecoin issuers meet federal reserve requirements under the recently enacted GENIUS Act.
The fund does not hold stablecoins but instead provides a regulated structure for backing them with cash-equivalent assets.
BNY estimates the global stablecoin market could reach $1.5 trillion by 2030. Anchorage Digital provided the fund’s first investment, highlighting its role in building compliant infrastructure for stablecoin issuance.
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