Citing Bitcoin.com, global financial services company BNY announced on Nov. 13 the launch of the BNY Dreyfus Stablecoin Reserves Fund to expand reserve options for U.S. stablecoin issuers under the GENIUS Act. The fund, structured as a government money market product, is intended for institutions in fiduciary, advisory, agency, custodial, or brokerage roles and excludes direct stablecoin investments. Anchorage Digital provided the initial allocation, with CEO Nathan McCauley calling the initiative a new chapter for stablecoin infrastructure in the U.S. The GENIUS Act, enacted in July 2025, established federal reserve requirements for U.S. payment stablecoins, making government money market funds like the new BSRXX eligible reserve vehicles once the statute becomes effective.
BNY Launches Stablecoin Reserves Fund to Support Regulated Digital Liquidity
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