Do stablecoins challenge the traditional financial order? BlackRock and Standard Chartered Bank speak out intensively

[Coin World] Stablecoins are changing the global financial landscape.

BlackRock’s latest release, the “2026 Global Market Outlook,” makes a bold prediction: stablecoins will gradually challenge governments’ control over fiat currencies. The logic behind this is straightforward— as stablecoin usage soars, demand for traditional fiat currencies in emerging markets faces downward pressure.

It’s not just BlackRock paying attention to this trend. Standard Chartered Bank in the UK issued a warning as early as October, with more direct language: the widespread adoption of stablecoins could lead to the loss of over $1 trillion in deposits from bank accounts in emerging markets. In other words, this is not just an emerging market issue.

What about the US? The situation is equally tricky. The “Genius Act,” which took effect in July, allows crypto companies to offer quasi-yield products that traditional banks are prohibited from providing, posing a clear threat to traditional financial institutions on Wall Street. A single sentence from BlackRock’s Global Markets Head, Samara Cohen, captures the essence: “Stablecoins are no longer fringe products; they are becoming the true bridge between traditional finance and digital liquidity.”

How big can this bridge get? Possibly bigger than you imagine.