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You probably never thought about it, but every USDC in your wallet has a sliver quietly earning BlackRock or State Street a management fee — that's the business Wall Street is now racing to win.
Fiona Lau
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September 04, 2026
On June 16, 2026, State Street Investment Management launched a government money market fund purpose-built for Stablecoin issuers — the State Street Stablecoin Reserves Money Market Fund — designed to manage reserve assets under the framework established by the GENIUS Act. On its own, this news isn't especially dramatic. But it's the latest move in a new battlefield some of Wall Street's...