State Street Investment Management announced the launch of the State Street Stablecoin Reserves Money Market Fund, a GENIUS Act-aligned registered Rule 2a-7 government money market fund designed specifically for the unique needs of stablecoin issuers. The Guiding and Establishing National Innovation for U.S. Stablecoins (“GENIUS”) Act, passed into law by the United States Congress in July 2025, creates a clearer regulatory framework to utilize money market funds registered under the Investment Company Act of 1940 to back the issuance of stablecoins. The fund was designed and built to comply with the GENIUS Act.

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.

“For more than 40 years, the cash management business of State Street Investment Management has delivered liquidity solutions to the world’s largest and most sophisticated institutional investors,” said Yie-Hsin Hung, president and chief executive officer of State Street Investment Management. “With the GENIUS Act, a clear framework has been established for how stablecoin reserves can be invested. State Street Investment Management’s time-tested approach to cash management focuses on principal preservation, liquidity and income, and we’re excited to partner with Anchorage Digital to bring these capabilities to the digital assets space.”

“Stablecoins are quickly becoming core financial infrastructure, making the quality and management of their reserves critically important,” said Nathan McCauley, co-founder and chief executive officer of Anchorage Digital. “As the GENIUS Act establishes a clear regulatory framework, this fund brings together State Street Investment Management’s decades of cash management expertise with Anchorage Digital’s regulated stablecoin infrastructure to help advance a more resilient, institutional-grade foundation for stablecoin reserves.”

The fund launches as the stablecoin market enters a new phase of growth, with global stablecoin issuance projected to reach between $1.9 trillion and $4 trillion by 2030 as institutional adoption accelerates.* This expansion is expected to drive an increase in stablecoin reserves backed by government money market fund assets, creating new opportunities for State Street’s institutional liquidity management solutions to back the digital ecosystem.

The launch builds on the recent introduction of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized liquidity solution enabling 24/7 onchain cash management via stablecoins, subject to the availability of stablecoin in the fund’s portfolio, and advances State Street Investment Management’s broader strategy of enabling seamless, institutional-grade participation in tokenized markets.

Source: State Street Investment Management