BlackRock 2026 Outlook: Stablecoins Are Disrupting Global Monetary Sovereignty, Emerging Markets Are at the Forefront

On January 2, BlackRock stated in its “2026 Global Market Outlook” that stablecoins will challenge governments’ control over fiat currencies. As the adoption rate of stablecoins surges, there is a risk of contraction in the use of fiat currencies in emerging market countries. Shortly before this forecast was released, Standard Chartered Bank in the UK warned in October that the widespread adoption of stablecoins could lead to the loss of over trillion in deposits from bank accounts in emerging markets. Similar challenges also exist in the US banking industry. The milestone stablecoin legislation, the “Genius Act,” which was signed into effect in July, allows crypto companies to offer quasi-yield products that traditional banks are prohibited from providing, posing a threat to traditional financial institutions. Samara Cohen, Head of Global Market Development at BlackRock, said, “Stablecoins are no longer niche products; they are becoming a bridge between traditional finance and digital liquidity.”