South African Reserve Bank Governor Lesetja Kganyago has warned that the rising use of stablecoins could pose a "fragmentation" risk to cryptocurrencies. Speaking at the 2026 Warwick Economic Summit, Kganyago emphasized the central bank's duty to maintain monetary unity and ensure affordable public access to currency. He noted that the development of stablecoins might challenge these objectives, as they are increasingly used in South Africa as low-volatility crypto assets. Kganyago highlighted that the South African Reserve Bank had previously cautioned in November 2025 about the financial risks associated with the lack of regulation of stablecoins. He also stressed the need for the central bank to rely on diverse financial models to navigate changes amid rising global uncertainties and U.S. tariff increases.