According to TechFlow, citing The Block on June 16, State Street has launched the State Street Stablecoin Reserves Money Market Fund, known by the ticker SSCXX. The product is aimed at stablecoin issuers and is positioned as a reserve asset management tool for entities operating in the stablecoin market.
SSCXX targets stablecoin reserve management
The report described SSCXX as a Rule 2a-7 government money market fund. Its investment scope mainly includes cash, short-term U.S. Treasury securities, repurchase agreements and other cash equivalents. The fund’s stated objectives are capital preservation, daily liquidity and a stable net asset value of $1 per share.
These features place the fund within a structure designed around the needs of stablecoin issuers, whose reserve assets are expected to emphasize liquidity and stability. The article specifically notes the fund’s focus on reserve management rather than broader digital asset exposure.
The product has received initial investment support from State Street and Anchorage Digital. The report also said SSCXX was explicitly designed to meet the regulatory requirements of the GENIUS Act. Within the information disclosed, the fund’s investment composition, liquidity objective and $1 share price target are presented as key parts of that design.
Part of State Street’s digital asset and tokenized cash initiatives
The launch continues State Street’s existing work in digital assets and tokenized cash management. Before SSCXX, State Street had already introduced SWEEP, an on-chain liquidity product for stablecoin use cases, and had launched its digital asset platform, DAP.
Based on the reported details, State Street is combining a government money market fund framework with a stablecoin reserve management use case. The product name, ticker, investment range, net asset value objective and compliance positioning are all centered on stablecoin issuers. The original report was published by TechFlow on June 16 and cited The Block as the source.