BNY Launches Dreyfus Stablecoin Reserves Money Market Fund
BNY announced the Dreyfus Stablecoin Reserves Fund on Nov. 13, a money market product designed to bolster stablecoin adoption by providing liquidity-focused exposure for institutional clients. The fund aims to integrate traditional cash management practices with stablecoin utility, offering a regulated, bank-backed vehicle that could make it easier for treasuries and asset managers to allocate to digital cash-like instruments.
The move signals growing convergence between legacy finance and crypto infrastructure, potentially lowering frictions for stablecoin use in settlements and liquidity pools. While the fund may accelerate mainstream uptake by offering familiar governance and oversight, its ultimate impact will depend on regulatory clarity and market reception among large cash holders seeking stable, digital liquidity options.