State Street Launches State Street Stablecoin Reserves Money Market Fund (SSCXX), Offering Reserve Asset Parking Tools for Stablecoin Issuers. The fund is initially supported by investments from State Street Bank and Trust Company and Anchorage Digital. SSCXX is a Rule 2a-7 government money market fund, primarily investing in cash, short-term U.S. Treasury securities, repurchase agreements, and other cash equivalents, aiming to maintain principal safety, daily liquidity, and a $1 share price. (The Block)

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Cross-SectionOfSucculent
· 9h ago
Traditional financial giants have entered the game; this move by State Street is to set the rules for the stablecoin track.
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GateUser-8d51653b
· 9h ago
Rule 2a-7 funds are used for reserves—this effectively opens a compliance backdoor for stablecoin issuers; USDT and USDC are probably investigating it.
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TideEarningsTable
· 9h ago
Anchorage Digital's participation in initial investments is quite interesting; the line between CeFi and DeFi is becoming increasingly blurred.
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