State Street launches a stablecoin-backed money market fund for digital asset reserves
Businesswire •
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Promote with Leviathan News$121M of net assets, a $15M minimum ticket, and a 3.49% 7-day SEC yield put SSCXX squarely in issuer treasury ops territory. GENIUS-compliant stablecoins are going to compete on reserve plumbing as much as distribution: USDC's 2023 SVB depeg made bank concentration visible, while Rule 2a-7 funds move the weak points into WAM/WAL, repo counterparties, and same-day redemption mechanics. Anchorage seeding it with State Street Bank gives the product a regulated crypto-bank handshake, which is probably the part US issuers care about when auditors and payment partners ask where the reserves actually sit.
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