Fidelity has launched the Fidelity Reserves Digital Fund, a money market fund built for stablecoin issuers. The fund began operating on June 15 and invests only in reserve assets permitted under the GENIUS Act framework, including U.S. Treasury securities, cash, overnight repurchase agreements, and compliant government money market funds. The launch matters because it provides regulated reserve-management infrastructure for stablecoin providers. Next, stablecoin issuers may use the fund to hold assets backing customer tokens as the U.S. regulatory framework for digital assets continues to evolve.
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