Fidelity Launches Government Money Market Fund for Stablecoin Reserve Management Under GENIUS Act
By
Emmanuel Musa
Summary
Fidelity Investments has launched the Fidelity Reserves Digital Fund (FYMXX), a government money market fund specifically designed for stablecoin issuers to manage their reserve assets. The fund aligns with the GENIUS Act regulatory framework and charges a 0.25% fee. This move represents Fidelity's entry into the stablecoin infrastructure space, joining other major Wall Street firms in competing to manage the reserves backing digital dollar stablecoins.
Source
bskyFidelity Launches Government Money Market Fund for Stablecoin Reserve Management Under GENIUS Actnews.bitcoin.comKey quotes
· 3 pulledFidelity has launched a government money market fund designed for stablecoin issuers managing reserve assets under the GENIUS Act.
The product joins a growing wave of institutional funds built for the fast-expanding stablecoin market.
Fidelity Investments has launched a government money market fund aimed at stablecoin issuers, adding another major Wall Street name to the race to manage reserves behind digital dollars.
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