State Street Launches Stablecoin Reserves Money Market Fund for Issuers

State Street has launched the State Street Stablecoin Reserves Money Market Fund (SSCXX), a reserves management tool aimed at stablecoin issuers, The Block reported. According to ChainCatcher, SSCXX is a Rule 2a-7 government money market fund that primarily invests in cash, short-term U.S. Treasuries, repurchase agreements, and other cash equivalents, with the stated goals of preserving principal, providing daily liquidity, and maintaining a stable $1 net asset value per share. The report said the product received initial investment support from State Street and Anchorage Digital and was designed to align with regulatory requirements under the GENIUS Act. The launch follows State Street’s earlier moves in digital assets and tokenized cash management, including an on-chain liquidity product called SWEEP for stablecoin use cases and the rollout of its Digital Asset Platform (DAP).