Fidelity launches money market fund for stablecoin reserves, following State Street

Fidelity is launching a money market fund for stablecoin issuers to meet GENIUS Act reserve requirements, following State Street's similar product. Traditional asset managers are competing for a market that could reach $4 trillion by 2030.

• Fidelity's Reserves Digital Fund will invest in short-term Treasuries and government money market funds for stablecoin issuers
• The GENIUS Act requires payment stablecoin issuers to hold reserves in cash, Treasuries and qualifying government funds
• State Street launched a similar product days earlier, signaling intensifying competition among Wall Street firms
• The stablecoin market has grown to ~$320 billion, with forecasts projecting $1.9-$4 trillion by 2030

Coinporta summarises news for fast scanning. Full reporting belongs to the source.

Last updated 18 Jun 2026