Fidelity Investments announced the launch of the Fidelity Reserves Digital Fund, a money market fund designed to manage reserve assets for stablecoin issuers and institutional investors. The fund will invest in U.S. Treasury securities with maturities of no more than 93 days, cash, overnight repurchase agreements backed by U.S. Treasuries, and government money market funds that meet GENIUS Act requirements. Previously, State Street also introduced a similar product. With the GENIUS Act establishing a federal regulatory framework for U.S. payment stablecoins, traditional asset management firms are accelerating their entry into the stablecoin reserve management market, competing for fund management opportunities driven by the expansion of stablecoin issuance. (CoinDesk) https://www.(wublock123.com)/news/fidelity-launches-digital-reserve-fund-for-stablecoin-issuers-62987