Federated Hermes launches a fund for issuers.
Federated Hermes has officially launched their Federated Hermes Money Market Management Digital Treasury Fund. Intended for U.S. stablecoin issuers, the fund will own 90 day U.S. Treasuries and Repurchase Agreements to comply with the Genius Act.
With over $900B of AUM (Assets Under Management), the investment manager with offices around the world has for the past few months been considering the benefits of supporting the rise of digital asset companies and in particular, stablecoin issuers from a client perspective.
While currently it hasn’t launched a tokenized version, there could likely be a future scenario whereby it follows the likes of BlackRock, J.P.Morgan, and others to also introduce a tokenized money market fund for 24/7 operations for settling shares onchain.
