Stablecoins are no longer a niche tool of the crypto market and are gradually turning into a full-fledged component of the global payment infrastructure, bridging the market of digital assets with traditional financial systems.
According to BlackRock’s Global Outlook 2026 report, the share of stablecoins in the total capitalization of the crypto market reached record levels thanks to their evolution from a tool for crypto trading into a bridge between digital and traditional finance.
BlackRock analysts argue that the growing share of stablecoins in the market structure reflects their expanding role as a means of payment, as well as their increasingly widespread use for settlements and cross-border transfers.
In particular, analysts highlight that the transition of stablecoins into the category of infrastructural financial instruments accelerated after the adoption of the Genius Act in the U.S. The new regulatory framework opened the door for stablecoins to compete with bank deposits and money market funds. According to BlackRock’s estimates, stablecoins have the potential to transform the global structure of liquidity sourcing and capital allocation.
The report also notes the increasing influence of stablecoins on global financial flows. Their integration into traditional payment systems is becoming a factor capable of reshaping the channels through which monetary policy is transmitted. BlackRock analysts claim that the mass adoption of stablecoins could potentially:
- redirect liquidity from banks to private issuers;
- reduce banks’ role in the lending market;
- change the mechanisms of monetary transmission.
The report emphasizes that in emerging markets, stablecoins are already used as a means of domestic settlement and as an alternative to local fiat currencies, increasing access to dollar-pegged assets while simultaneously complicating central banks’ ability to control money supply.
BlackRock’s analysts view the ongoing developments as an early phase of the shift toward a tokenized financial architecture. In their view, stablecoins can operate alongside traditional payment channels, gradually reshaping the logic of global financial infrastructure.
Earlier, Robbie Mitchnick, Global Head of Digital Assets at BlackRock, stated that institutional clients don’t expect BTC to be used as a payment method in the near future. Meanwhile, his colleagues Larry Fink and Rob Goldstein argue that tokenization is what will enable a radical upgrade of the global financial infrastructure.
