Federated Hermes Launches $907.1B Money Market Fund for GENIUS Act Stablecoin Reserves

Federated Hermes has launched a money market fund under ticker OFFXX, specifically designed to serve as eligible reserve assets under the GENIUS Act, which requires stablecoin issuers to maintain 1:1 backing with high-quality liquid assets. The fund invests in U.S. dollar cash, Treasury securities with maturities of 93 days or less, and overnight repurchase agreements collateralized by Treasuries. As of March 31, 2026, Federated Hermes managed $907.1 billion in total assets, positioning its nearly $685 billion in money market assets to capture regulatory-driven demand from stablecoin issuers preparing for compliance deadlines in 2026.
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