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State Street Investment Management launches stablecoin MMF
17 June 2026 US
Image: akif/stock.adobe.com
State Street Investment Management has unveiled its State Street Stablecoin Reserves Money Market Fund (MMF), a GENIUS Act-aligned registered Rule 2a-7 government fund designed for the needs of stablecoin issuers.
The fund was created to comply with the GENIUS Act, which establishes a more coherent regulatory framework to utilise MMFs registered under the 1940 Investment Company Act to back the issuance of stablecoins.
State Street Bank and Trust Company, and Anchorage Digital, a federally chartered crypto bank, are initial investors in the fund.
Yie-Hsin Hung, president and chief executive officer of State Street Investment Management, notes: “With the GENIUS Act, a clear framework has been established for how stablecoin reserves can be invested.
“We’re excited to partner with Anchorage Digital to bring these capabilities to the digital assets space.”
Nathan McCauley, co-founder and chief executive officer of Anchorage Digital, adds: “As the GENIUS Act establishes a clear regulatory framework, this fund brings together State Street Investment Management’s decades of cash management expertise with Anchorage Digital’s regulated stablecoin infrastructure to help advance a more resilient, institutional-grade foundation for stablecoin reserves.”
The fund was created to comply with the GENIUS Act, which establishes a more coherent regulatory framework to utilise MMFs registered under the 1940 Investment Company Act to back the issuance of stablecoins.
State Street Bank and Trust Company, and Anchorage Digital, a federally chartered crypto bank, are initial investors in the fund.
Yie-Hsin Hung, president and chief executive officer of State Street Investment Management, notes: “With the GENIUS Act, a clear framework has been established for how stablecoin reserves can be invested.
“We’re excited to partner with Anchorage Digital to bring these capabilities to the digital assets space.”
Nathan McCauley, co-founder and chief executive officer of Anchorage Digital, adds: “As the GENIUS Act establishes a clear regulatory framework, this fund brings together State Street Investment Management’s decades of cash management expertise with Anchorage Digital’s regulated stablecoin infrastructure to help advance a more resilient, institutional-grade foundation for stablecoin reserves.”
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