Search results for Stablecoin Reserve Portfolio
Crypto
State Street launches money market fund for stablecoin issuers\' reserves
State Street has launched a money market fund for stablecoin issuers to manage reserve assets. The product is designed to align with the U.S. GENIUS Act and uses a government money market fund structure under Rule 2a-7, investing in assets such as U.S. Treasuries and repurchase agreements. State Street Bank and federally chartered crypto bank Anchorage Digital joined as initial investors. Financial firms are speeding product development as the stablecoin market expands.
Crypto
Morgan Stanley partners with Galaxy Digital on crypto lending and ETP conversion
Morgan Stanley Wealth Management has launched a service that allows high-net-worth clients to lend cryptocurrencies to Galaxy Digital and receive stakes in spot cryptocurrency exchange-traded products (ETPs). Customers can convert bitcoin, ether and solana into ETPs without cashing out, Morgan Stanley said. It said onboarding time can be cut by up to 75 percent. Galaxy lowered the minimum transaction amount for Morgan Stanley-referred clients to $5 million from $25 million.
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.