#USA #New York #BNY #stablecoin #DigitalAssets

BNY Launches the Stablecoin Reserves Fund

On November 13, 2025, BNY (The Bank of New York Mellon Corporation), a prominent global financial services entity, announced the introduction of the BNY Dreyfus Stablecoin Reserves Fund (BSRXX). This groundbreaking money market fund is specifically designed to facilitate institutional adoption of digital assets in the liquidity space. The launch responds to the growing demand among U.S. stablecoin issuers and other institutional investors who wish to manage their reserves more efficiently.

Purpose of the Fund

The BSRXX aims to support qualified institutional investors, including U.S. stablecoin issuers, acting in various capacities such as fiduciary, advisory, or custodial roles. Notably, the fund will not invest directly in stablecoins but will hold reserves intended to back stablecoins that will be issued under the new Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This offer is timely as the stablecoin market is projected to undergo substantial growth, potentially reaching a valuation of $1.5 trillion by 2030.

According to Stephanie Pierce, Deputy Head of BNY Investments, “Cash is the cornerstone of the digital asset ecosystem, enabling global capital markets to transition into a constant, 24/7 operational environment.” She further emphasized the fund’s role in leading this transformative phase, positioning BNY as a key player in the evolving world of stablecoin utilization.

Initial Investment and Support from Anchorage Digital

Highlighting the initiative's significance, the launch has already secured an initial investment from Anchorage Digital, a leading global cryptocurrency platform facilitating institutional transactions in digital assets. Nathan McCauley, Co-Founder and CEO of Anchorage Digital, expressed pride in supporting this initiative, indicating that BNY's expertise in liquidity combined with the GENIUS Act establishes a robust foundation for stablecoin infrastructure in the U.S. He stated, “This effort is crucial in establishing trust, transparency, and regulatory rigor that will define the next era of digital finance.”

Regulatory Framework and Future Outlook

Enacted in July 2025, the GENIUS Act lays down a comprehensive federal regulatory framework for U.S. stablecoins. It outlines the types of assets that can be held as reserves by stablecoin issuers. As such, the BNY Dreyfus Stablecoin Reserves Fund, classified as a government money market fund, will serve as a pivotal resource for U.S. stablecoin issuers looking to conform with regulatory definitions once the GENIUS Act is activated.

BNY's extensive experience in the digital asset sector is noteworthy, as it provides fund services for a significant portion of digital asset exchange-traded products in the U.S., Canada, and Europe, as well as administering over 50% of the global tokenized fund assets. This strong footing allows BNY to lead the charge in integrating stablecoins into the broader financial landscape while addressing emerging market needs effectively.

Conclusion

With an impressive legacy spanning over 240 years and managing trillions in assets, BNY continues to innovate within the financial domain. The launch of the BNY Dreyfus Stablecoin Reserves Fund not only emphasizes their leadership but also marks a critical advancement for stablecoin infrastructure amid an increasingly digital financial ecosystem. As they embrace these digital transformations, BNY is poised to remain at the forefront of the evolving market, driving liquidity and stability to meet the needs of modern investors and institutions alike.