State Street Launches Stablecoin Reserves Money Market Fund
- State Street launched the SSCXX money market fund on June 8, 2026, with $121 million in assets under management and a yield of approximately 3.51%.
- The GENIUS Act, signed in July 2025, enabled this product category by creating a federal reserve framework for stablecoin issuers.
- Anchorage Digital joined as a seed investor, leveraging its federally chartered crypto bank infrastructure with State Street’s cash management platform.
- The fund complies with SEC Rule 2a-7 and holds assets like short-term U.S. Treasuries maturing in up to 93 days and overnight repurchase agreements.
- Tether and USDC dominate the stablecoin market, holding approximately $186-$188 billion and $75 billion respectively, out of a total market capitalization of $300-$315 billion as of mid-June.
State Street’s new fund targets stablecoin issuers needing compliant reserve assets following the GENIUS Act’s regulatory clarity for payment stablecoins in the U.S.
The SSCXX fund aims to provide safe and liquid reserves for stablecoins while maintaining a stable $1 net asset value through eligible short-term investments like U.S. Treasuries. (Source)
