BNY is set to target the stablecoin market with 1.5 trillion dollars.

BNY's New Fund Supports Stablecoin Issuers

BNY is launching a new money market fund to help stablecoin issuers meet the requirements of the United States Federal Reserve.

BNY Dreyfus Stablecoin Reserve Fund holds cash-like reserves. The initial investment in this fund has been made by the federally licensed crypto bank Anchorage Digital.

BNY forecasts that the stablecoin market will reach $1.5 trillion by 2030 and continues to work to provide the foundational infrastructure for this expansion.