State Street Investment Management has launched the State Street Stablecoin Reserves Money Market Fund (MMF), a government MMF that aims to meet the needs of stablecoin issuers.
State Street claims in a press release that the new solution is one of the first government MMFs to support stablecoins issuance at scale, that is also designed to align with the GENIUS act in the US. The initial investors in the MMF are crypto bank Anchorage Digital, and State Street Bank and Trust Company.
According to the Web3 to Wall Street report by Citi Institute published in September 2025, global stablecoin issuance is projected to reach between US$1.9 trillion and US$4 trillion by 2030 due to increasing institutional adoption. A consequential increase in stablecoin reserves backed by government MMF assets can thus be expected.
The launch of State Street Stablecoin Reserves MMF builds on another new solution – the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) – introduced last month. SWEEP is a tokenised liquidity solution that enables 24/7 onchain cash management via stablecoins.
