Following State Street, Fidelity is targeting reserve assets that underpin the expanding stablecoin market. Fidelity Investments is launching the Fidelity Reserves Digital Fund, a money market fund aimed at managing reserves for stablecoin issuers and institutional investors under the new GENIUS Act, on Thursday. The move follows State Street’s debut of a similar stablecoin-reserve money market fund, highlighting intensifying competition among traditional asset managers for a market that could…
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