Core revenue in the cryptocurrency industry is shifting to stablecoin reserves, tokenised funds, interest on U.S. Treasuries and treasury management. Cointelegraph reported on Aug. 7 that business models in the digital asset industry are being rapidly reorganised into a structure similar to traditional finance, especially banking.

BlackRock has launched two tokenised money market products that can be used to manage stablecoin issuer reserves in line with the U.S. GENIUS Act.

One product tokenises an existing stake in a U.S. Treasury liquidity strategy on Ethereum. Approved investors can transfer ownership on-chain, and the underlying assets are invested in cash and short-term U.S. Treasuries. The other is an institutional-only money market product for the digital asset market. It supports multiple blockchains and is designed to automatically reinvest returns.

BlackRock already operates BUIDL, the industry's largest tokenised Treasury fund. Cointelegraph reported that the new launch coincides with a trend in which Wall Street is moving to expand on-chain financial products after a federal regulatory framework for payment stablecoins was put in place.