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BlackRock warns stablecoins may erode fiat control in emerging markets by 2026

BlackRock said in its 2026 Global Market Outlook on Jan. 2 that stablecoins will challenge governments' control of fiat currencies, BlockBeats reports. The firm warned surging adoption could shrink fiat use in emerging markets; in October, Standard Chartered said stablecoin popularity may drain over $1 trillion from EM bank deposits. BlockBeats also noted pressure in U.S. banking as the "Genius Act" signed in July lets crypto firms offer yield-like products banned for traditional banks.
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