Fidelity Investments has unveiled the Fidelity Reserves Digital Fund (FYMXX), designed specifically for stablecoin issuers and institutional investors. This money market fund will focus on assets that are eligible for stablecoin reserves as stipulated by the GENIUS Act, as reported by The Block.
The fund's prospectus reveals that it plans to invest in U.S. Treasury bills with maturities of up to 93 days, cash holdings, overnight repos backed by U.S. Treasuries, and various government money market funds.
