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Sign InMorgan Stanley Investment Management (MSIM) has launched the Stablecoin Reserves Portfolio (MSNXX), a government money market fund tailored for stablecoin issuers under the U.S. GENIUS Act. This strategic move directly challenges BlackRock, which currently manages the reserves for Circle, a leading stablecoin issuer. The launch comes amid industry projections that the stablecoin market will expand to $2 trillion by 2028. By introducing MSNXX, Morgan Stanley aims to capture a significant share of this growing sector, building on the momentum of its successful MSBT Bitcoin ETF. The fund provides a regulated liquidity management vehicle for digital asset issuers adhering to new federal oversight. Analysts believe this expansion positions the bank as a central pillar in the infrastructure of dollar-pegged digital assets.