Search results for BNY Mellon
Crypto
Morgan Stanley launches money market fund for stablecoin reserves
Morgan Stanley has launched a government money market fund designed for stablecoin issuers seeking to hold reserves. According to CoinDesk, Morgan Stanley Investment Management introduced the Stablecoin Reserve Portfolio. The fund is aimed at issuers of dollar- and other fiat-linked stablecoins that must hold assets such as dollars to back tokens in circulation. The fund, ticker MSNXX, invests only in U.S. short-term Treasuries and repurchase agreements and targets a $1 net asset value.
Crypto
Standard Chartered considers folding parts of Zodia Custody business into investment bank
Standard Chartered is reviewing a plan to bring parts of Zodia Custody, a crypto custodian in which it holds a majority stake, into its investment banking unit. The bank is considering moving Zodia’s custody business into an in-house team that provides related services within its corporate and investment bank, while leaving Zodia to operate independently as a software-as-a-service platform for digital asset custody. A restructuring announcement could come this month.
Crypto
Stablecoin regulatory uncertainty could hit banks harder
Regulatory uncertainty over stablecoins could hit banks harder, Cointelegraph reported on March 15, citing Mega Matrix Vice President Colin Butler. Butler said financial institutions have already made large investments in digital asset infrastructure but cannot fully use them because rules are unclear. He said banks have laid groundwork for stablecoin support, while crypto firms may keep operating in existing regulatory grey areas. Butler also cited higher stablecoin yields than bank deposits.
