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According to Ledgerinsights, the asset management giant Federated Hermes, with an asset management scale of $907 billion, announced the launch of its first money market fund compliant with the federal GENIUS Act — the "Federated Hermes Money Market Managed Digital Treasury Fund (Digital Treasury Fund Reserve Shares, code: OFFXX)." The fund primarily targets reserve asset management needs of payment stablecoin issuers and is also open to retail and institutional investors.