Morgan Stanley is latest to launch MMF targeting stablecoin issuers
Morgan Stanley Investment Management (MSIM) has launched a money market fund (MMF) targeting stablecoin issuers, the Stablecoin Reserves Portfolio (MSNXX).
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MSNXX invests only in Treasuries maturing within 93 days, cash and overnight repos to satisfy GENIUS Act reserve rules, pitting Morgan Stanley against BlackRock and BNY for reserves in a roughly $316 billion stablecoin market.
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