US EditionStablecoin News: BNY Launches Stablecoin Reserve Fund for Issuers, Eyeing $1.5T Market
BNY Investments launched a fund supporting stablecoin issuers with infrastructure and reserves, open to qualified investors and backed by Anchorage Digital's initial investment.
- BNY Investments launched a money market fund to serve stablecoin issuers, framing it as part of a broader push to support traditional finance and blockchain-based assets.
- With regulators globally putting rules in place, BNY projects the stablecoin market could reach $1.5 trillion from its current $300 billion, reflecting rapid growth.
- The product is available to qualified institutional investors , and Anchorage Digital provided initial capital, with Nathan McCauley saying `This fund represents the infrastructure needed to make compliant stablecoin issuance possible at scale`.
- By joining other asset managers, BNY's launch adds to institutional reserve solutions for stablecoin issuers, mirroring BlackRock's Circle Reserve Fund managing $66 billion in U.S. Treasuries and repos.
- Looking to 2030, BNY cites a $3.6T projection by 2030 and Stephanie Pierce, deputy head of BNY Investments, said cash enables global capital markets to move toward an always-on, 24/7 environment.
16 Articles
16 Articles
PR Newswire
BNY Launches Stablecoin Reserves Fund, Further Expanding BNY's Leadership in Digital Assets
/PRNewswire/ -- BNY (NYSE: BK), a global financial services company, today announced the launch of the BNY Dreyfus Stablecoin Reserves Fund (BSRXX), a money...
BNY Mellon Launches First GENIUS Act-Compliant Money Market Fund for Stablecoin Issuers
BNY Mellon introduces the Dreyfus Stablecoin Reserves Fund (BSRXX) to meet new U.S. stablecoin reserve rules. Anchorage Digital becomes the fund’s first institutional investor amid rising demand for compliant stablecoin infrastructure. The $315 billion stablecoin market could surge to $4 trillion, intensifying demand for US-backed securities. The Bank of New York Mellon Corp. (BNY Mellon) has unveiled the Dreyfus Stablecoin Reserves Fund (BSRX…
BNY Unveils First Money-Market Fund Built for U.S. Stablecoin Rules
Key Takeaways: BNY launched a new money-market fund designed specifically for stablecoin issuers under the new GENIUS Act requirements. The fund holds only ultra-short-term securities to meet upcoming U.S. reserve rules. Anchorage Digital became the first investor, as stablecoin supply rapidly expands. Banking groups still warn that stablecoins may pose risks even with stricter regulations. BNY has begun offering a specialized money-market prod…
BNY Opens Treasury-Backed Reserve Fund for U.S. Stablecoin Issuers
BNY Targets Stablecoin Issuers With New Fund BNY has launched a money market fund aimed at holding reserves for U.S. stablecoin issuers, becoming the first major bank to roll out such a vehicle under the country’s new federal framework for digital dollars. The fund, announced Thursday, is open to U.S. stablecoin issuers and other institutional investors acting in fiduciary, agency, advisory, brokerage or custodial capacities. It is designed to h…
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