Fidelity Launches Digital Fund for Stablecoin Reserves Under GENIUS Act
Fidelity Investments has launched the Fidelity Reserves Digital Fund (FYMXX), a government money market fund designed to hold stablecoin reserves under the newly enacted GENIUS Act. The move positions traditional finance players in the regulated stablecoin economy, with Tether’s USDT and Circle’s USDC leading the $315 billion stablecoin market.
Topics: digital assets Fidelity GENIUS Act money market fund regulatory compliance