State Street Launches GENIUS-Compliant Money Market Fund SSCXX for Stablecoin Issuers

According to State Street CEO Yie-Hsin Hung's announcement on Tuesday, State Street Investment Management has launched the State Street Stablecoin Reserves Money Market Fund (SSCXX), a Rule 2a-7 government money market fund designed for stablecoin issuers to park their reserves. The fund aims for principal preservation, daily liquidity, and a stable $1 share price while generating yield.

SSCXX was explicitly designed to comply with the GENIUS Act, passed in July 2025, which established a regulatory framework for U.S. stablecoins. The fund is supported by initial investments from State Street Bank and Trust Company and Anchorage Digital, and invests only in cash, short-term U.S. Treasuries, repo agreements, and other cash equivalents.