State Street launches money market fund for stablecoin reserves

U.S. asset manager State Street has launched the State Street Stablecoin Reserve Money Market Fund (SSCXX), a product designed to manage reserves for stablecoin issuers, The Block reported. The SSCXX is a government money market fund (MMF) that invests in cash, short-term U.S. Treasurys, and repurchase agreements (repos). It is designed to meet the regulatory requirements of the ENIUS Act.