State Street Investment Management has launched the State Street Stablecoin Reserves Money Market Fund, a registered Rule 2a-7 government money market fund designed for stablecoin issuers, according to a company press release.

The fund was built to comply with the GENIUS Act, legislation passed by the U.S. Congress in July 2025 that establishes a regulatory framework for using money market funds registered under the Investment Company Act of 1940 to back stablecoin issuance.

State Street Bank and Trust Company and Anchorage Digital are listed as initial investors in the fund. Anchorage Digital holds a federal bank charter through Anchorage Digital Bank N.A. and is valued at $4.2 billion.

"With the GENIUS Act, a clear framework has been established for how stablecoin reserves can be invested," said Yie-Hsin Hung, president and chief executive officer of State Street Investment Management.

Nathan McCauley, co-founder and chief executive officer of Anchorage Digital, said the fund "brings together State Street Investment Management's decades of cash management expertise with Anchorage Digital's regulated stablecoin infrastructure."

The fund launch follows the earlier introduction of the State Street Galaxy Onchain Liquidity Sweep Fund, a tokenized liquidity product enabling around-the-clock onchain cash management via stablecoins.

State Street Investment Management is the asset management arm of State Street Corporation (NYSE: STT), which reported over $5 trillion in assets under management as of March 31, 2026.

According to a September 2025 Citi Institute report cited in the press release, global stablecoin issuance is projected to reach between $1.9 trillion and $4 trillion by 2030.