BNY Launches New Stablecoin Reserve Fund for GENIUS Act Compliance
BNY Mellon has introduced the BNY Dreyfus Stablecoin Reserves Fund, a government money market vehicle designed to assist U.S. stablecoin issuers in complying with the GENIUS Act. Enacted in July 2025, the legislation mandates new federal reserve requirements for payment stablecoins, with government money market funds soon qualifying as compliant reserve assets.
The MOVE underscores the accelerating shift toward regulated digital liquidity, with institutions increasingly seeking safer, government-backed avenues to support stablecoins and tokenized assets. BNY's positioning at the forefront of this transition reflects broader market trends toward 24/7 settlement and always-on infrastructure.
Crypto analyst WrathofKahneman highlights that the GENIUS Act has formally placed stablecoin reserves under regulated banking oversight, requiring issuers to adopt compliant structures. BNY's new fund represents one of the first products specifically tailored for stablecoin issuers, signaling growing institutional confidence in the sector.