Experience
Stradley Ronon Advises on Launch of BNY Dreyfus Stablecoin Reserves Fund
Stradley Ronon worked with BNY Investments Dreyfus (Dreyfus) in the launch of the BNY Dreyfus Stablecoin Reserves Fund, one of the first stablecoin reserve money market funds. Established after the enactment of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which created the first comprehensive regulatory framework for payment stablecoins, the BNY Dreyfus Stablecoin Reserves Fund is intended to function as a permitted reserve vehicle for payment stablecoin issuers under the GENIUS Act. The signing of the GENIUS Act creates potential new use cases for money market funds, positioning these funds at the forefront of a new chapter in the digital assets industry.
Stradley Ronon represents the BNY family of mutual funds. Dreyfus, the affiliated liquidity solutions provider of BNY, manages over $300 billion in money market fund assets. The BNY Dreyfus Stablecoin Reserves Fund launched on November 13.
David Stephens, Jamie M. Gershkow, Mena Larmour and Geena Marzouca
