The post BNY launches stablecoin reserve fund as it eyes $1.5T market appeared on BitcoinEthereumNews.com. BNY, one of the oldest banks in the U.S., has unveiled a new stablecoin reserves fund targeted at boosting institutional adoption of cryptocurrencies. Summary BNY has launched a new stablecoin initiative as it expands its footprint across digital assets. The bank’s Dreyfus Stablecoin Reserves Fund will cater to issuers complying with the GENIUS Act. Stablecoin growth has experts predicting expansion into a $1.5 trillion market by 2030. The global financial services firm announced the launch of its money market fund dubbed BNY Dreyfus Stablecoin Reserves Fund on November 13. The fund, BSRXX, is for U.S. stablecoin issuers and other qualified industry participants who meet the Federal Reserve requirements set out in the U.S. stablecoin regulation GENIUS.  BSRXX will not, in itself, hold any stablecoins; rather, BNY is offering it as a regulated platform for cash-equivalent reserves. BNY expands footprint amid stablecoin market growth Stablecoins continue to attract growing adoption and investment, even as firms take advantage of the clarity provided by regulatory frameworks such as the GENIUS Act. Notably, experts say the stablecoin market could grow rapidly over the next three to five years, reaching $1.5 trillion by 2030. BNY’s fund looks to bolster this space, the bank said. “Cash is the cornerstone of the digital asset ecosystem, enabling global capital markets to move toward an always-on, 24/7 environment,” said Stephanie Pierce, deputy head of BNY Investments. “Stablecoins are at the forefront of this profound transformation, and we are proud to provide our liquidity leadership and expertise to stablecoin issuers with the launch of the BNY Dreyfus Stablecoin Reserves Fund.” Issuers can integrate with the fund as themselves or through a player acting as an advisory firm, agency, custodian, brokerage, or fiduciary. BNY’s initiative incorporates Anchorage Digital, the first federally chartered crypto bank in the U.S. Commenting, Anchorage Digital co-founder… The post BNY launches stablecoin reserve fund as it eyes $1.5T market appeared on BitcoinEthereumNews.com. BNY, one of the oldest banks in the U.S., has unveiled a new stablecoin reserves fund targeted at boosting institutional adoption of cryptocurrencies. Summary BNY has launched a new stablecoin initiative as it expands its footprint across digital assets. The bank’s Dreyfus Stablecoin Reserves Fund will cater to issuers complying with the GENIUS Act. Stablecoin growth has experts predicting expansion into a $1.5 trillion market by 2030. The global financial services firm announced the launch of its money market fund dubbed BNY Dreyfus Stablecoin Reserves Fund on November 13. The fund, BSRXX, is for U.S. stablecoin issuers and other qualified industry participants who meet the Federal Reserve requirements set out in the U.S. stablecoin regulation GENIUS.  BSRXX will not, in itself, hold any stablecoins; rather, BNY is offering it as a regulated platform for cash-equivalent reserves. BNY expands footprint amid stablecoin market growth Stablecoins continue to attract growing adoption and investment, even as firms take advantage of the clarity provided by regulatory frameworks such as the GENIUS Act. Notably, experts say the stablecoin market could grow rapidly over the next three to five years, reaching $1.5 trillion by 2030. BNY’s fund looks to bolster this space, the bank said. “Cash is the cornerstone of the digital asset ecosystem, enabling global capital markets to move toward an always-on, 24/7 environment,” said Stephanie Pierce, deputy head of BNY Investments. “Stablecoins are at the forefront of this profound transformation, and we are proud to provide our liquidity leadership and expertise to stablecoin issuers with the launch of the BNY Dreyfus Stablecoin Reserves Fund.” Issuers can integrate with the fund as themselves or through a player acting as an advisory firm, agency, custodian, brokerage, or fiduciary. BNY’s initiative incorporates Anchorage Digital, the first federally chartered crypto bank in the U.S. Commenting, Anchorage Digital co-founder…