According to TechFlow, citing Ledgerinsights on June 11, U.S. asset management firm Federated Hermes has announced the launch of the Federated Hermes Money Market Management Digital Treasury Fund. The company describes the product as a digital Treasury money market fund that complies with stablecoin regulatory requirements under the GENIUS Act.
Federated Hermes manages $907 billion in assets. The newly announced fund is primarily aimed at stablecoin issuers, while also being open to institutional investors and retail investors. Based on the disclosed information, the maturity of the fund’s collateral assets will not exceed 93 days.
The fund’s investment scope includes cash, U.S. Treasuries and other highly liquid assets. For stablecoin issuers that need reserve assets composed of cash and short-dated U.S. government securities, the fund links those asset categories with the stablecoin regulatory framework referenced by Federated Hermes.