According to ChainCatcher, citing The Block, State Street has launched the State Street Stablecoin Reserves Money Market Fund, known as SSCXX. The fund is positioned as a reserve asset management tool for stablecoin issuers, with its name directly identifying the stablecoin reserves use case. The product adds a dedicated vehicle aimed at issuers that need to manage reserve assets in connection with stablecoin operations.
SSCXX targets stablecoin issuers
The report states that SSCXX is a Rule 2a-7 government money market fund. Its portfolio is designed to invest primarily in cash, short-term U.S. Treasury securities, repurchase agreements and other cash equivalents. State Street has set out the fund’s objectives as capital preservation, daily liquidity and a stable net asset value of $1 per share. These stated features define the product’s role as a cash and short-duration reserve management option for stablecoin-related activity.
The product has received initial investment support from State Street and Anchorage Digital. The report also says the fund has been explicitly designed to comply with the regulatory requirements of the GENIUS Act. In this structure, SSCXX is not described as a general cash management product alone; it is presented as a fund built around the needs of stablecoin issuers and aligned with the regulatory framework referenced in the report.
Part of State Street’s digital asset and tokenized cash management push
The launch continues State Street’s broader work in digital assets and tokenized cash management. Before introducing SSCXX, State Street had already launched SWEEP, an on-chain liquidity product for stablecoin use cases, and had also rolled out its digital asset platform, DAP. Together, SSCXX, SWEEP and DAP form part of State Street’s product activity across stablecoins, on-chain liquidity and digital asset infrastructure.
Based on the disclosed information, the key elements of SSCXX include its focus on stablecoin issuers, its structure as a Rule 2a-7 government money market fund, investments in cash, short-term U.S. Treasuries, repurchase agreements and other cash equivalents, a daily liquidity objective, a stable $1 net asset value target, and initial investment support from State Street and Anchorage Digital. With the fund’s launch, State Street has added another reserve management arrangement connected to stablecoin issuance and digital asset services.