State Street launched a GENIUS Act-compliant money market fund for stablecoin issuers. STT rose 1.65% to $170.13. The fund targets the growing reserve management market under the new federal stablecoin law.
State Street shares climbed Tuesday after the bank unveiled a money market fund designed specifically for stablecoin issuers. STT rose 1.65% to $170.13, recovering from an earlier dip below $167.50.
The State Street Stablecoin Reserves Money Market Fund, trading under SSCXX, is a registered Rule 2a-7 government money market fund. It holds cash, short-dated U.S. Treasuries, repurchase agreements, and similar cash equivalents. The structure is meant to preserve a steady $1.00 net asset value per share while offering same-day liquidity.
The fund's framework aligns with the GENIUS Act, the stablecoin legislation Congress passed in July 2025. That law created a federal regulatory structure for payment stablecoins and the assets backing them. It also explicitly allowed registered money market funds to serve as reserve vehicles for stablecoin creation.
State Street Bank and Trust Company and Anchorage Digital are the founding supporters. Anchorage brings regulated crypto custody and banking capabilities. State Street contributes its institutional cash management infrastructure.
State Street has been building out digital asset products for several years. The company launched its Digital Asset Platform in January for token lifecycle management. It also partnered with Taurus on custody, tokenization, and blockchain node operations. The Galaxy Onchain Liquidity Sweep Fund, which uses stablecoins for blockchain-based cash management, preceded this latest offering.
The GENIUS Act opened the door for traditional money market funds to compete for stablecoin reserve mandates. BlackRock, Morgan Stanley, and JPMorgan have all explored similar products. SSCXX targets issuers who need a regulated, conventional reserve structure under the new law.
Industry forecasts cited by State Street project global stablecoin circulation reaching $1.9 trillion to $4 trillion by 2030. Reserve assets backing those tokens would represent a growing slice of institutional money markets.
State Street's Alpha Score sits at 68 out of 100, labeled Moderate, in the Financials sector. The stock page is STT stock page.
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