According to BlockBeats, BlackRock's 2026 Global Market Outlook highlights that stablecoins are set to challenge governmental control over fiat currencies. The rapid adoption of stablecoins could lead to a decline in the use of fiat currencies in emerging markets. This prediction follows a warning from Standard Chartered Bank in October, which suggested that the rise of stablecoins might result in a loss of over $1 trillion in deposits from emerging market bank accounts.
Similar challenges are present in the U.S. banking sector. The Genius Act, a landmark stablecoin legislation enacted in July, allows crypto companies to offer yield-like products that traditional banks are prohibited from providing, posing a threat to conventional financial institutions. Samara Cohen, BlackRock's Global Head of Markets Development, stated, "Stablecoins are no longer niche products; they are becoming a bridge between traditional finance and digital liquidity."