State Street Investment Management launched a money market fund for stablecoin issuers, joining JPMorgan, Morgan Stanley and others targeting reserve assets.

SSCXX is a Rule 2a-7 government money market fund, a conservative type of fund that invests only in cash and yield-bearing cash equivalents.

The asset manager joins BlackRock, Franklin Templeton and others competing to manage reserves backing the growing stablecoin market.

State Street launches a GENIUS Act-aligned money market fund targeting stablecoin issuers, joining BlackRock, Goldman, and BNY.

State Street Investment Management launched a money market fund for stablecoin issuers, joining JPMorgan, Morgan Stanley and others targeting reserve assets.

Following State Street, Fidelity is targeting reserve assets that underpin the expanding stablecoin market.