BNY Launches Regulated Stablecoin Reserves Fund Under GENIUS Act
BNY Mellon has introduced the BNY Dreyfus Stablecoin Reserves Fund (BSRXX), a money market fund designed to hold reserve assets for U.S. stablecoin issuers. The fund, announced on November 13, operates within the regulatory framework established by the GENIUS Act, enacted in July 2025. It aims to provide qualified institutional investors, including stablecoin issuers and custodial entities, with a regulated vehicle for reserve holdings.
Anchorage Digital, the first federally chartered crypto bank, has committed an initial investment to the fund. Managed by BNY Investments Dreyfus, the offering is positioned as the flagship product on BNY’s Liquidity Direct platform. This move signals growing institutional confidence in crypto-backed financial products as regulatory clarity improves.