Fidelity Launches Stablecoin Reserve Fund to Target $320B Compliance Market

On June 18, 2026, Fidelity Investments launched the Fidelity Reserves Digital Fund, a product designed to help stablecoin issuers comply with the GENIUS Act — the first federal U.S. framework establishing mandatory reserve requirements for payment stablecoins. The fund invests in cash, U.S. Treasury securities with maturities of 93 days or less, overnight repurchase agreements backed by Treasuries, and qualifying government money market funds.

Stablecoins currently represent approximately $320 billion in market value. Fidelity's launch follows State Street's own reserve fund announcement this week, signaling that major traditional asset managers are positioning themselves as primary service providers for the compliance-driven reserve management market.