New BlackRock report exposes a historic shift in crypto that leaves only one blockchain controlling the settlement layer
Stablecoins used to be a crypto convenience, a way to park dollars between trades without touching fiat. However, the industry has matured enough that BlackRock now treats them as foundational rails for the market.
In its 2026 Global Outlook, the BlackRock Investment Institute argued that stablecoins are widening beyond exchanges and becoming integrated into mainstream payment systems. It also said they could expand in cross-border transfers and day-to-day use in emerging markets.
That framing matters because it shifts the question investors ask, especially when it comes from a name as big as BlackRock.
The point here isn’t whether stablecoins are good for crypto. The question is whether they’re on track to become a settlement rail…
