U.S. asset management firm Federated Hermes launches compliant digital Treasury money market fund

TechFlow News, June 11: According to Ledger Insights, Federated Hermes—a U.S.-based asset management firm with $907 billion in assets under management—announced the launch of the Federated Hermes Money Market Management Digital Treasury Fund, a money market fund compliant with the regulatory requirements for stablecoins set forth in the GENIUS Act. Primarily targeting stablecoin issuers, the fund is also open to institutional and retail investors. Its collateral assets have maturities of no more than 93 days and include highly liquid assets such as cash and U.S. Treasury securities.