[Bank of New York Mellon Launches Money Market Fund Designed for Stablecoin Issuers] Jin10 News, November 13 – According to U.S. media reports, Bank of New York Mellon is launching a money market fund specifically tailored for stablecoin issuers, who are required to comply with the recently signed U.S. stablecoin legislation. The bank's BSRXX is one of the first funds designed specifically for stablecoin providers, aiming to offer them an investment venue where they can deposit funds received during the issuance of new tokens, while adhering to the GENIUS Act signed into law earlier this year by Trump. The legislation mandates that issuers of dollar-backed digital tokens allocate their reserves into ultra-safe investments with durations shorter than those of traditional money market funds. Stephanie Pierce, Deputy Head of BNY Mellon Investment Management, stated that the new fund is designed to meet the requirements of the legislation by holding only securities with maturities of 93 days or less.