Mercury, a technology company providing banking services to startups and scaling businesses, has introduced two exclusive treasury products with Morgan Stanley Investment Management and State Street Investment Management, giving customers new options for managing cash reserves.
The first product, MCRYX, is an ultra-short bond fund developed with Morgan Stanley Investment Management and is already available through Mercury Treasury, offering a yield of up to 3.88%. Mercury also plans to introduce MRGXX in the coming weeks, a dedicated share class of State Street Investment Management’s government money market fund. The fund has a lower expense ratio than Mercury’s previous government money market product and is intended to provide customers with greater net yield.
The two products are designed to improve returns on business cash while maintaining the liquidity and conservative investment approach associated with Mercury’s existing treasury offering. According to Mercury, the new funds do not change the underlying risk profile of its treasury products, allowing customers to seek higher returns without increasing credit exposure or extending duration.
The launch comes as companies manage increasingly significant cash balances. Global venture funding exceeded $500bn during the first half of 2026, while Mercury said the increase in funding activity has contributed to larger cash positions among early-stage businesses. ElevenLabs, Supabase and Linear are among the companies using Mercury Treasury for cash management.
Mercury’s broader platform provides banking services for businesses, including cards, invoicing, bill payment and spend management, alongside real-time financial insights. The company said more than 300,000 entrepreneurs use its platform.
Mercury CFO Dan Kang said, “Founders and finance teams shouldn’t have to move money across platforms or take unnecessary risk to earn a competitive return on their cash. We built these funds with Morgan Stanley Investment Management and State Street Investment Management to give our customers exclusive access to institutional-quality Treasury products directly inside Mercury.”
Morgan Stanley Investment Management global head of liquidity product Scott Wachs said, “We’re seeing growing demand from startups and finance teams for cash management solutions that combine liquidity, operational simplicity, and institutional-quality investment products. We are pleased to expand our partnership with Mercury by making the MSIFT Ultra-Short Strategy Portfolio (MCRYX) available to Mercury customers.”
State Street Investment Management senior managing director, global head of cash, securities lending and digital assets Kim Hochfeld said, “More than ever, today’s businesses require cash management solutions that are predictable, reliable, and transparent. We are thrilled to partner with Mercury, whose intuitive platform is redefining treasury management for modern companies.”
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