#genuis act

[rwatimes]

State Street unveils stablecoin fund as GENIUS Act reshapes reserves

State Street launches a stablecoin reserve fund under the GENIUS Act as institutions expand tokenized finance offerings and stablecoin infrastructure.

➤ State Street has launched a new money market fund specifically for stablecoin issuers, designed to comply with the recently enacted GENIUS Act. ➤ This initiative, backed by Anchorage Digital, aims to provide a regulated investment vehicle for stablecoin reserves, reflecting growing institutional involvement in tokenized finance. ➤ The launch anticipates significant growth in the global stablecoin market, projected to reach $1.9 trillion to $4 trillion by 2030, driving demand for specialized financial infrastructure.

[rwatimes]

Federated Hermes launches money market fund for GENIUS Act stablecoin reserves

The new Federated Hermes fund offers stablecoin issuers access to cash and short term U.S. Treasury investments under GENIUS Act rules.

➤ Federated Hermes has launched a new money market fund specifically designed to hold reserves for stablecoin issuers operating under the GENIUS Act. ➤ The fund, named the Digital Treasury Money Market Fund (OFFXX), invests in cash and short-term U.S. Treasury securities, adhering to Rule 2a-7 of the Investment Company Act of 1940. ➤ This product addresses the growing demand for compliant reserve assets as stablecoin issuers prepare for new regulatory requirements under the U.S. stablecoin framework.

[rwatimes]

Tokenized Asset Market Surpasses $34 Billion, Driven by U.S. Treasurys

The tokenized asset market has grown to $34 billion, driven by U.S. Treasury products and institutional blockchain adoption, following the GENIUS Act's sta

➤ The tokenized asset market has surged to $34 billion, a tenfold increase since mid-2024, largely propelled by tokenized U.S. Treasury products. ➤ The GENIUS Act, establishing a federal framework for payment stablecoins and mandating one-to-one reserve backing, has been a key driver for institutional adoption and demand for short-duration Treasurys. ➤ Treasurys and commodities now represent two-thirds of the market, with other asset classes like equities and real estate also showing growth.

[rwatimes]

OCC backs stablecoin bank; Augustus CEO says AI won’t rebuild banks

According to Cointelegraph, Augustus Bank N.A. has reached a regulatory milestone as the U.S. Office of the Comptroller of the Currency (OCC) granted conditional approval for the institution to pursue a national charter under the GENIUS Act. The development marks a pivotal moment...

➤ Augustus Bank N.A. has received conditional approval from the OCC to pursue a national charter under the GENIUS Act, aiming to operate as a stablecoin bank with AI-powered compliance. ➤ The bank proposes a three-layer stablecoin model for payments, treasury management, and AI agent interaction, challenging legacy clearing infrastructures. ➤ While a regulatory milestone, Augustus faces challenges in scaling AI-driven operations and competing with established financial institutions, with regulators closely monitoring its approach to risk and governance.

[rwatimes]

JPMorgan Launches Second Ethereum-Based Treasury Fund Targeting Stablecoin Reserve Market

JPMorgan filed for JLTXX, a tokenized money market fund on Ethereum targeting stablecoin issuers' reserve needs under GENIUS Act regulations.

➤ JPMorgan has filed with the SEC for its second Ethereum-based tokenized money market fund, JLTXX, designed to meet stablecoin reserve requirements under the GENIUS Act. ➤ The fund will invest in short-term U.S. government securities and overnight repo agreements, managed by JPMorgan's Kinexys Digital Assets division. ➤ This move signifies continued Wall Street adoption of tokenized assets, with the RWA market growing significantly, particularly in tokenized U.S. Treasuries.

[rwatimes]

JPMorgan Launches Second Ethereum-Based Fund Targeting Stablecoin Reserve Market

JPMorgan files for JLTXX, a tokenized money market fund on Ethereum designed for stablecoin issuers under GENIUS Act, as RWA market reaches $32.2B.

➤ JPMorgan has filed with the SEC for JLTXX, a new tokenized money market fund on Ethereum, specifically designed for stablecoin issuers to meet reserve requirements under the GENIUS Act. ➤ The fund will invest in short-term U.S. Treasuries and cash equivalents, managed by JPMorgan's Kinexys Digital Assets division, and is built on Ethereum with plans for multi-chain support. ➤ This launch signifies growing institutional adoption of tokenized assets, with the RWA market reaching $32.2 billion, dominated by tokenized U.S. Treasuries, and follows similar moves by BlackRock and Morgan Stanley.

[rwatimes]

BlackRock Pushes Back on Proposed Tokenized Reserve Cap - Banking Exchange

Firm warns that OCC rules could curb growth of blockchain-based Treasury products BlackRock has urged the U.S. Office of the Comptroller of the Curren...

➤ BlackRock is urging the OCC to reconsider proposed rules that would cap tokenized reserve assets at 20%, arguing it could hinder the growth of blockchain-based Treasury products. ➤ The asset manager believes reserve assets should be evaluated on traditional risk factors rather than the technology used to represent them. ➤ This pushback highlights ongoing tensions between financial institutions seeking to expand RWA offerings and regulators concerned about digital finance risks.

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BlackRock Fights OCC’s 20% Tokenized Asset Cap That Could Clip BUIDL Fund

BlackRock wants the cap gone. The world's biggest asset manager just told the Office of the Comptroller of the Currency that its proposed 20% limit on

➤ BlackRock is challenging the OCC's proposed 20% cap on tokenized reserve assets, arguing it would stifle innovation in products like its BUIDL tokenized money-market fund. ➤ The asset manager also advocates for expanding the range of eligible assets for tokenization beyond just Treasuries to include corporate bonds and other instruments. ➤ The OCC's proposed cap, part of the GENIUS Act, aims to manage risk in the traditional banking system, but BlackRock believes tokenization offers efficiency and reduced counterparty risk.