Fidelity Investments has introduced the Fidelity Reserves Digital Fund, a money market fund designed to help stablecoin issuers comply with reserve requirements under the GENIUS Act. The fund invests in cash, short-term U.S. Treasuries, and government money market funds allowed by federal stablecoin regulations. This move positions Fidelity alongside other financial firms like State Street, targeting the growing market for stablecoin reserve management as digital dollar issuance is expected to rise. The GENIUS Act mandates stablecoin issuers to maintain reserves in highly liquid assets, and Fidelity’s fund aims to provide a compliant solution for this need.
Fidelity clients purchased about $23.92 million worth of Bitcoin, continuing a trend of significant institutional investment through the firm's crypto platforms. Fidelity has been involved in Bitcoin since 2014 and offers both institutional and retai...
Citigroup plans to launch its Bitcoin custody service in 2026 through a new platform called Custody+. This service will allow institutional clients to hold Bitcoin alongside traditional assets like stocks and bonds within a single framework, simplify...
