According to ChainCatcher, BlackRock, in its "2026 Global Market Outlook," pointed out that stablecoins will challenge governments' control over fiat currencies. With the surge in stablecoin adoption, the use of fiat currencies in emerging market countries risks shrinking. This prediction comes shortly after Standard Chartered Bank warned in October that the widespread adoption of stablecoins could lead to a loss of over $1 trillion in deposits from emerging market bank accounts. Similar challenges exist in the US banking sector. The landmark stablecoin Genius Act, signed into law in July of this year, allows crypto companies to offer yield-like products prohibited by traditional banks, posing a threat to traditional financial institutions.
Samara Cohen, Head of Global Markets Development at BlackRock, said: "Stablecoins are no longer a niche product; they are becoming a bridge between traditional finance and digital liquidity."
