BlackRock подчеркивает роль стейблкоинов как нового канала в инвестициях Translation: BlackRock Highlights the Role of Stablecoins as a New Channel in Investments

Analysts at BlackRock have noted a shift in the financial landscape driven by cryptocurrencies and the rising national debt in the United States. According to the company’s report, “stablecoins” have emerged as a bridge between the digital and traditional economies.

Experts highlighted that stablecoins are no longer merely tools for cryptocurrency trading. By November 2025, the market volume had surpassed $250 billion. These assets are increasingly being utilized for cross-border transactions and everyday payments.

The report also references the passage of the GENIUS Act in the United States, which established the first regulatory framework for payment stablecoins. Issuers were permitted to offer marketing incentives, positioning them as competitors to bank deposits and money market funds.

BlackRock believes that a significant outflow of capital into digital assets could alter the lending mechanisms within the economy, posing risks to banks regarding their liquidity.

Moreover, in developing nations, stablecoins are replacing weak national currencies. This evolution enhances access to the dollar while complicating the monetary policy of local central banks.

BlackRock identified other essential trends as well:

The report addressed the issue of U.S. national debt. BlackRock analysts no longer view long-term Treasury bonds as a reliable safe-haven asset in portfolios. Investors were advised to seek alternative hedging instruments in light of increasing budget deficits.

Larry Fink, CEO of BlackRock, explained the dramatic shift in his stance on cryptocurrencies. Speaking at the NYT DealBook Summit, he commented on his journey from vehement criticism of the industry to launching the largest spot Bitcoin ETF.

Fink acknowledged that his transition from associating digital assets with money laundering to managing billion-dollar assets in what he termed digital gold was a «striking public example» of changed beliefs. According to BlackRock’s CEO, «his thought process is constantly evolving.»

Fink characterized Bitcoin as a «fear asset.» The executive noted that the price of the leading cryptocurrency had dropped following news of a trade deal between the U.S. and China.

He also cautioned short-term investors about the inherent risks, emphasizing that Bitcoin remains an extremely volatile instrument. Successful trading requires an impeccable market sense, which he believes most people do not possess.

It’s worth recalling that in November, Robert Mitchnik, head of the investment firm’s crypto division, stated that most clients of the world’s largest asset management companies do not regard digital gold as a means of payment.