Federated Hermes Launches GENIUS Act-Compliant Money Market Fund OFFXX on June 11

According to Foresight News, Federated Hermes announced the launch of OFFXX, its first money market fund compliant with the GENIUS Act, targeting stablecoin issuers while remaining open to institutional and retail investors. The fund's collateral assets have a maximum maturity of 93 days and invest in cash and U.S. Treasury securities. The fund reserves are available for purchase directly or through intermediaries, including those using blockchain technology to maintain shareholder records.
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