Morgan Stanley Investment Management launched the Stablecoin Reserves Portfolio on April 23 as a government money market fund built specifically to hold the cash reserves backing stablecoin issuers’ outstanding tokens. The product is positioned to capture reserve-management business from stablecoin issuers and complements previously reported details that the fund, ticker MSNXX, targets a stable $1 net asset value, offers daily liquidity, and invests in cash, short-dated U.S. Treasuries, and Treasury-backed overnight repurchase agreements. Existing reporting also states the fund carries a $10 million minimum investment and a 0.15% management fee.