Crypto Biz: Crypto’s biggest business is starting to look a lot like banking

Written by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorWritten by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorCrypto Biz: Crypto’s biggest business is starting to look a lot like bankingLatest NewsPublishedAug 7, 2026Crypto business is converging with banking as stablecoin reserves, tokenized funds, Treasury income and balance sheet management become key profit drivers.At first glance, this week’s biggest business stories could have come straight from Wall Street. BlackRock launched tokenized money market funds for stablecoin reserves. Tether generated another $1.5 billion in profit from its US Treasury holdings. Tokenized gold continued gaining traction, though its use in decentralized finance remains limited. Even Bitcoin (BTC) mining was defined by production costs, profitability and balance sheet management rather than the price of Bitcoin.The digital asset industry’s business model is increasingly converging with traditional finance. Stablecoin reserves, tokenized money market funds and onchain collateral are emerging as some of the industry’s most important revenue drivers, signaling that blockchain’s next phase may be shaped as much by financial infrastructure as by digital assets themselves.BlackRock launches tokenized reserve funds for stablecoin issuersAsset manager BlackRock has introduced two tokenized money market products designed to help stablecoin issuers meet reserve requirements under the US GENIUS Act, expanding its push into blockchain-based financial infrastructure.One fund tokenizes shares of BlackRock’s existing Treasury liquidity strategy on Ethereum, allowing approved investors to transfer ownership onchain while the underlying assets remain invested in cash and short-term US government securities. The second is a new institutional money market vehicle built for digital asset markets that supports multiple blockchains and automatically reinvests income, making it suitable for stablecoin reserve management.The l…

Crypto Biz: Crypto’s biggest business is starting to look a lot like banking

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