The race for stablecoin infrastructure is heating up on Wall Street, with Citigroup expanding its payment capabilities amid speculation of major financial institutions exploring stablecoin initiatives post-US GENIUS Act passage. Western Union plans a Solana-based stablecoin network. Bitcoin mining sees smaller players gaining ground. Ledn reports over $1 billion in Bitcoin-backed loans in 2025.

Citigroup partners with Coinbase for stablecoin payments, reflecting growing client demand for faster payment options. Citi forecasts stablecoin market could reach $4 trillion by 2030. Major banks like JPMorgan and Bank of America are exploring stablecoin initiatives post-US GENIUS Act.

Western Union selects Solana for a new digital asset settlement network, including a US Dollar Payment Token and a Digital Asset Network. USDPT expected to launch in the first half of 2026. Solana chosen for its transaction speed and scalability.

Smaller Bitcoin miners are gaining market share post-halving, challenging established leaders like MARA Holdings and CleanSpark. Mid-tier companies like Cipher Mining and HIVE Digital are rapidly scaling production, with some diversifying into AI and high-performance computing.

Ledn reports record Bitcoin-backed loan originations, surpassing $1 billion in 2025. Long-term holders increasingly opt to borrow against their assets instead of selling. Ledn, Tether, and Galaxy Digital are the top three CeFi lenders, accounting for 89% of the market.

Read more at Cointelegraph: Wall Street and Corporates Accelerate Stablecoin Adoption