The law’s passage appeared to open a door. Western Union and Zelle were among the payment companies that moved into the stablecoin space following its enactment.
While shares in the fund are expected to be held mostly by stablecoin issuers, reports indicate the fund may also accept other qualified investors.
MORGAN STANLEY LAUNCHES STABLECOIN RESERVES FUND
Morgan Stanley Investment Management has launched the Stablecoin Reserves Portfolio (MSNXX). It is a government money market fund built exclusively for stablecoin issuers.
Morgan Stanley’s Bigger Crypto PushThe firm has also filed paperwork with US securities regulators to list funds tied to Ether and staked Solana. In February, a national trust banking charter application was submitted to the Office of the Comptroller of the Currency.
If approved, the charter would allow Morgan Stanley to hold crypto assets on behalf of clients, execute trades, and handle transfers directly.
All of this is coming from one of the largest investment banks on the planet. Morgan Stanley manages more than $6 trillion in client assets through roughly 16,000 financial advisers.
What The Offering SignalsStablecoin issuers need somewhere safe and regulated to park the cash or short-term securities that back their tokens — and now a major US bank is pitching itself as that destination.
Data from Morgan Stanley’s website confirms the $10 million entry floor, placing the product firmly in the institutional category.
Featured image from Banking Dive, chart from TradingView
