TechFlow News, June 16: According to The Block, State Street Corporation has launched the State Street Stablecoin Reserves Money Market Fund (SSCXX), a reserve asset management tool designed for stablecoin issuers. This fund is a Rule 2a-7 government money market fund that primarily invests in cash, short-term U.S. Treasury securities, repurchase agreements, and other cash equivalents, aiming to preserve principal, provide daily liquidity, and maintain a stable $1.00 net asset value per share.
The report states that the product has received initial investment support from State Street and Anchorage Digital and is explicitly designed to comply with the regulatory requirements of the GENIUS Act. This move continues State Street’s strategic expansion into the digital assets and tokenized cash management space—previously, it launched SWEEP, an on-chain liquidity product tailored for stablecoin use cases, and rolled out its Digital Asset Platform (DAP).
