Crypto
Fidelity launches money market fund aimed at stablecoin issuers
Fidelity Investments has launched a new government money market fund aimed at institutional investors, particularly stablecoin issuers. The Fidelity Reserves Digital Fund (FYMXX) launched on June 15, a report said. It invests only in reserve assets permitted under the U.S. stablecoin regulatory law known as the GENIUS Act, including U.S. Treasuries, cash and overnight repurchase agreements. The minimum initial investment is $1 million and the management fee is 0.25 percent.
