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50% of Global Currencies will Feature in the Stablecoin Market by 2026, Predicts Leading Crypto Exec
Amid their growing popularity, 50% of global currencies will feature in the stablecoin market by 2026, according to Fiorenzo Manganiello, co-founder and managing partner of LIAN Group.
Manganiello’s intervention follows news that China is considering allowing the use of yuan-backed stablecoins, marking a significant reversal of its ban on crypto in payments.
For Manganiello, this stance shift sends a clear message: stablecoins are now becoming a non-negotiable element of the global payments landscape. Even in the West, major financial giants such as Bank of America and Morgan Stanley are also preparing to wade into the market, adding to what Manganiello believes could be a major “watershed” moment for the tokens.
The stablecoin market has historically been strongly dollar-denominated, with its two largest titans, USDT and USDC, both pegged to the greenback. For Manganiello, however, this historic bias is due to “shift” – China’s embrace is a sign that the market is diversifying, and as more countries look to boost their position in the global payments market, this diversification will only intensify further.
For Manganiello, it’s feasible that, in as little as a year, over half of all global currencies will feature in the stablecoin ecosystem.
Fiorenzo Manganiello, co-founder and managing partner of LIAN Group, said: “If China proceeds in allowing yuan-pegged stablecoins, it will catalyse what could be a mass diversification in the market – a real watershed moment.
“Don’t get me wrong, while the market has somewhat diversified, stablecoins are still very much seen as a ‘dollarized’ asset – and you only have to look at the popularity of USDT, USDC, and further afield, USDe, and DAI as evidence. That being said, if China, the world’s second-largest economy, wades in, that could all shift.
“With greater regulatory guardrails and institutional acceptance, stablecoins are becoming a must-have in the global payments sector. And as they enter deeper into mainstream finance, and governments internationally warm further, there’s no denying that the market could rapidly diversify, with more currencies featuring on the league table.
“A boom is already underway, and if there was ever a time for the market to expand, it’s now.”
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