[Bank of New York Mellon Launches Money Market Fund Designed for Stablecoin Issuers] BlockBeats News, November 13, according to U.S. media reports, the Bank of New York Mellon is launching a money market fund specifically tailored for stablecoin issuers who need to comply with the recently enacted U.S. stablecoin legislation. The bank's BSRXX is one of the first funds designed specifically for stablecoin providers, aiming to offer them an investment venue where they can deposit the funds received when issuing new tokens, while adhering to the 'GENIUS Act' signed into law earlier this year by Trump. The law requires issuers of dollar-backed digital tokens to place their reserves into ultra-safe investments with durations shorter than traditional money market funds. Stephanie Pierce, Deputy Head of BNY Mellon Investment Management, stated that the new fund is designed to meet the requirements of the law by holding only securities with maturities of 93 days or less. (Jin10)