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Morgan Stanley launches stablecoin reserves fund
The Block·
Morgan Stanley Investment Management has introduced a new government money market fund, the Stablecoin Reserves Portfolio (MSNXX), specifically designed to meet the reserve asset requirements for stablecoin issuers under the proposed GENIUS Act. This fund aims to preserve capital and provide daily liquidity by investing in U.S. Treasury instruments and cash with short maturities. While primarily intended for stablecoin issuers to back their tokens, the fund may also be accessible to non-issuers seeking a stable investment vehicle.
Tags
fintech
regulation
crypto
Original Source
The Block — theblock.co