State Street and Tether Moves Show the Race to Bank Stablecoin Reserves

State Street is launching a money market fund aimed at stablecoin reserves as Tether signs a blockchain deal with Dubai's commodity authority.

State Street is launching a money market fund designed to hold the reserves that back stablecoins, joining BlackRock, Franklin Templeton and others competing to manage the assets behind the growing stablecoin supply. The move shows that the…