Anchorage Digital Supports Launch of State Street’s Stablecoin Reserves Money Market Fund

TL;DR: Anchorage Digital is partnering with State Street Investment Management as a seed investor in a new GENIUS Act-ready money market fund, bringing institutional-grade reserve management to the next phase of stablecoin adoption.

Stablecoins are the rails of modern finance

Anchorage Digital, home to America’s first federally regulated crypto bank, today announced its participation as a seed investor in the launch of the State Street Federal Stablecoin Reserves Money Market Fund, developed by State Street Investment Management.

‍Purpose-built for stablecoin issuers and institutional cash reserve managers, the fund introduces a new model for how stablecoin reserves can be managed, one grounded in a regulatory framework, principal preservation, and institutional-grade liquidity.

This marks a meaningful step forward in the evolution of stablecoins from crypto-native instruments to fully integrated components of the global financial system.

A new standard for stablecoin reserves

‍As stablecoin adoption accelerates, one question has become increasingly important: how should reserves be managed at scale?

Historically, reserve management has varied widely across issuers, with limited standardization and inconsistent alignment with traditional financial frameworks.

‍The passage of the GENIUS Act changes that.

‍Now there is a clear legal foundation in the United States for how stablecoin reserves should be structured, managed, and overseen. The State Street Federal Stablecoin Reserves Money Market Fund is designed specifically for that environment, providing a compliant, transparent, and scalable vehicle for reserve management.

“Institutions are increasingly turning to stablecoins as a new form of financial infrastructure, but they expect the same standards that exist across traditional markets. That starts with how reserves are managed. By partnering with State Street Investment Management, we’re combining federally regulated crypto infrastructure with one of the most trusted platforms in institutional asset management to bring a more consistent, transparent, and scalable approach to stablecoin reserves.” — Nathan McCauley, Co-Founder and CEO of Anchorage Digital

Bridging stablecoins and institutional cash management

‍State Street Investment Management brings decades of experience managing cash for some of the world’s largest institutions, anchored in a conservative approach focused on liquidity, safety of principal, and yield.

By applying that expertise to stablecoin reserves, this fund creates a bridge between two previously separate worlds:

• Crypto-native stablecoin issuance
• Traditional institutional cash management

‍Anchorage Digital’s role as a seed investor reflects our broader commitment to building the financial infrastructure required for this convergence.

‍As the first federally chartered crypto bank in the U.S., we work with institutions that are increasingly asking not just how to issue stablecoins, but how to manage them in a way that meets the standards of global finance.

An inflection point for stablecoins

‍As the stablecoin market approaches $300 billion in reserve assets, and is poised to grow significantly as institutions adopt stablecoins for payments, settlement, and treasury operations.

‍At the same time, the regulatory landscape has shifted.

‍With the GENIUS Act passed through Congress, institutions have a clear path to engage with stablecoins through a federally aligned framework. That clarity is unlocking demand from banks, asset managers, and global financial institutions that require:

• Defined reserve standards
• Trusted counterparties
• Institutional-grade investment vehicles

‍This fund is designed for that moment. It provides a regulated, familiar structure (money market fund exposure) for a new category of assets that is rapidly becoming foundational to modern finance.

Building the foundation for institutional stablecoins

At Anchorage Digital, we believe stablecoins will be one of the primary drivers of how value moves globally over the next decade. This partnership with State Street Investment Management represents an important step toward that full-stack infrastructure, bringing together federally regulated crypto capabilities with one of the most trusted names in institutional asset management.
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“For more than 40 years, the cash management business of State Street Investment Management has delivered solutions to the world’s largest and most sophisticated institutional investors. With the GENIUS Act now passed through Congress, a clear framework has been established for how stablecoin reserves can be invested. State Street Investment Management’s conservative, battle-tested approach to managing cash is centered around principal preservation, liquidity and income, and we’re excited to partner with an industry leader like Anchorage Digital to help bring these capabilities, and new opportunities to manage stablecoin reserves, to the market.”— Kim Hochfeld, Global Head of Cash and Digital Assets for State Street Investment Management.

‍As the market continues to scale, the institutions that succeed will be those that combine regulatory alignment with operational excellence.

Anchorage Digital will continue to partner with leading institutions like State Street to build the infrastructure that supports this next phase of growth, bringing stablecoins fully into the framework of global finance. To learn more, please get in touch.