BlackRock's "2026 Global Outlook" report highlights the growing influence of stablecoins, suggesting they could challenge government control over fiat currencies. As stablecoin adoption rises, particularly in emerging markets, there is a potential decline in fiat currency usage. Samara Cohen, BlackRock's global market development head, emphasized that stablecoins are evolving from niche products to essential bridges between traditional finance and digital liquidity. The report also notes concerns from Standard Chartered Bank, which warned that stablecoin proliferation might result in over $1 trillion in lost bank deposits in emerging markets. The U.S. banking sector faces similar challenges, exacerbated by the "Genius Act," a stablecoin bill enacted in July, allowing crypto firms to offer yield-like products that traditional banks cannot, posing a significant threat to conventional financial institutions.