BlackRock, one of the world’s largest asset management firms, will introduce a new Genius Act-compliant money market fund. The move aims to streamline the reserve holding process for stablecoin issuers.
BlackRock to Introduce Genius Act-Compliant Money Market Fund for Stablecoin Issuers
The new fund is reportedly designed to enable US-based stablecoin projects to manage their reserves in compliance with regulatory requirements. Under the Genius Act, the fund will offer greater transparency, auditability, and asset security.
BlackRock’s initiative also demonstrates the increasing integration of traditional financial institutions into the digital asset ecosystem. The fund is expected to provide a potential reserve management solution for stablecoin issuers like Circle (USDC) and PayPal (PYUSD).
This move by the company once again reveals BlackRock’s continued interest in crypto and blockchain-based financial infrastructures.
Analysts emphasize that this step could increase institutional confidence in the stablecoin market and accelerate the process of regulatory compliance.
*This is not investment advice.
Continue Reading: Asset Management Company BlackRock Launches New Money Market Fund for Stablecoin Issuers! Details Here
