State Street Holding’s investment division has launched the State Street Stablecoin Reserves Money Market Fund, designed specifically for steel mints. The instrument is fully compliant with the US GENIUS Act, which regulates the use of money markets to ensure "stable coins." The first investors in the new structure were State Street Bank and Trust Company and the crypto-bank Anchorage Digital.

According to the head of State Street Investment Management, Ye-shin Hung, GENIUS Act has provided clear rules for investing reserves, and the new product combines the company’s expertise in managing cash with digital asset infrastructure. Anchorage Digital added that good reserve management is crucial for integrating stablecoins into the underlying financial system.

Analysts predict that with institutional acceptance, Stablecoins will reach $1.9-4 trillion by 2030, multiplying the demand for transparent mechanisms to support them. Earlier in May, State Street, together with Galaxy, had already launched the SWEEP fund to manage liquidity 24/7 using stablebanks.