BlockBeats News, June 18th, according to CoinDesk, Fidelity Investments has officially launched the "Fidelity Reserves Digital Fund," aiming to provide reserve asset management services to stablecoin issuers and institutional investors, further tapping into the fund management needs brought about by the rapid expansion of stablecoins.

The fund will mainly invest in short-term U.S. Treasuries, cash, repurchase agreements, and other high-liquidity assets to comply with the regulatory requirements of the U.S. "GENIUS Act" for reserve assets of payment-type stablecoins.

At the same time, State Street has also recently launched a similar product, marking that Wall Street's large asset management institutions are accelerating their entry into the stablecoin reserve management market, competing around the cash and bond assets behind stablecoins.