State Street launches GENIUS Act-aligned stablecoin reserve fund

State Street launched the State Street Digital Reserve Fund (ticker SSCXX) on June 8. The fund is an institutional government money market vehicle designed to serve as a reserve for dollar-backed stablecoins and tokenized payment systems.

SSCXX carries a $15 million minimum investment and is aimed at institutional stablecoin issuers, payment firms and corporate treasury managers rather than retail investors. The fund will hold short-term government and government-related securities to back digital dollar products and will not issue tokens itself.

Anchorage Digital is listed as a launch partner on the product. Anchorage is one of the first federally chartered crypto banks in the United States; the partnership pairs State Street’s asset-management platform with a crypto-focused custody and banking firm.

State Street wrote that the fund was “designed and built to comply with the GENIUS Act” and that it seeks to provide “a high level of current income consistent with preserving principal and liquidity.” The firm positions SSCXX to meet reserve-management and compliance expectations set out in recent U.S. stablecoin legislation.

The GENIUS Act creates a statutory framework for dollar-backed digital assets and addresses reserve, liquidity and custody standards. State Street frames SSCXX as a regulated option for companies that must meet those standards when managing assets that back digital dollars.

Money market funds typically invest in short-term, high-quality government and government-related securities to offer stability and liquidity. SSCXX is structured to hold such reserve assets and to support issuers that need regulated reserve holdings for redeemable stablecoins, tokenized payment rails or corporate digital cash operations.

In recent years, large financial firms have introduced related crypto products such as spot bitcoin exchange-traded funds, tokenized treasury products and trading infrastructure. SSCXX is focused specifically on the reserve layer that supports stablecoin systems rather than on token trading or investment exposure.