The Trump administration's executive order signaling a pro-stablecoin regulatory posture in the United States has sent a clear message to global financial markets: dollar-denominated stablecoins are moving from the margins of crypto to the center of a new payments and settlement infrastructure.
For money market fund managers, this isn't just a crypto story. It's a structural shift in what "cash equivalents" might mean for the next generation of investors and institutions.
The Core Opportunity
Traditional money market funds have long competed on yield, liquidity, and safety. Stablecoins threaten — or rather transform — that value proposition. Fund units tokenized as stablecoins don't just offer exposure to short-term fixed income; they become programmable, 24/7 available means of payment.
Rather than viewing this as competition, forward-looking managers should see it as a product evolution: the fund unit as a stablecoin, combining the credit quality of a regulated fund with the utility of digital cash.
What This Means for LATAM
In Latin America — where dollar demand is structurally high and local currencies are volatile — the case is even stronger. A tokenized money market fund denominated in USD and accessible via a blockchain wallet solves real problems that traditional fund distribution cannot reach.
I wrote about this in full for Buda.com's blog. The original article is in Spanish.