BNY launches stablecoin reserves fund as it eyes $1.5 trillion market
PositiveCryptocurrency

BNY's recent launch of a stablecoin reserves fund marks a pivotal step in promoting institutional adoption of cryptocurrencies. This initiative aligns with the bank's broader strategy to engage with the burgeoning $1.5 trillion market for digital assets. Additionally, BNY's introduction of a money market fund to hold reserves for U.S. stablecoin issuers further emphasizes its commitment to this sector. By creating these financial products, BNY is not only facilitating the growth of cryptocurrencies but also positioning itself as a key player in the evolving landscape of digital finance.
— via World Pulse Now AI Editorial System
