The race to build the StableCoin infrastructure has heated up across Wall Street and Corporate America. Citigroup is moving forward with plans to expand StableCoin’s payment capabilities, amid growing speculation Major financial institutions are exploring StableCoin initiatives following the passage of the US Genius Act – the comprehensive law expected to take effect in early 2027.
The momentum extends beyond the banks. Western Union announced plans to build a StableCoin payment network in Solana, highlighting how traditional payment providers are embracing blockchain for faster and cheaper cross-border transactions.
Meanwhile, bitcoin (BTC) The mining landscape is becoming increasingly competitive, with smaller operators quickly closing the gap on industry leaders. And in digital lending, Ledn reported more than $1 billion in Bitcoin-backed loan originations this year—evidence that investors are increasingly choosing to borrow against their BTC holdings rather than sell.
Citi partners with Coinbase on StableCoin payments
Citigroup eyes stablecoin payments As the next major driver of growth, the partnership with Crypto Exchange Coinbase to expand digital asset capabilities. The initiative initially focused on making it easier for clients to switch between crypto and fiat currencies.
Debopama Sen, Citi’s head of payments, said the move reflects growing client demand for faster, more programmable payment options. The bank is “exploring solutions to enable Onchain StableCoin payments for our clients,” Sen said.
The announcement comes nearly a month after Citi expected the StableCoin Market could advance to $4 trillion by 2030from about $ 315 billion today.
Following the path of US Genius Actseveral major Wall Street banks, including JPMorgan and Bank of America, have reportedly explored their own StableCoin initiatives.
Western Union Selects Solana for StableCoin Settlement Network
Global Remittance Giant Western Union is Development of a new digital asset settlement system Built on the Solana blockchain, a move that highlights the company’s focus on transaction speed and scalability as it embraces digital assets.
During the third-quarter earnings call, Western Union announced plans to launch an ecosystem that includes a US Dollar payment token (USDPT) and a digital asset network, built in partnership with Anchorage Digital Banka federally chartered crypto bank that provides custodial and infrastructure services.
USDPT is expected to debut in the first half of 2026, with partnerships with multiple crypto exchanges to enhance access and liquidity.
“We looked at the alternatives, and Solana ended up being the right choice,” Western Union CEO Devin McGranahan said at the Money 20/20 USA Conference.
Mid-Tier Bitcoin miners gain ground in post-halving shakeup
The Bitcoin mining industry is growing more competitive In the post-halving era, as a new wave of mid-tier companies rapidly gain market share and challenge established leaders.
According to data from miner mag, smaller publicly listed miners, including cipher mining, bitdeer and hive digital, have significantly boosted their realized hashrate after years of heavy infrastructure investment. These companies are now closing the gap on leading players such as Mara Holdings, CleanSpark and Cango.
“Their ascent highlights how the middle tier of public miners – once hugging the back – has rapidly scaled production since the 2024 split,” the miner mag wrote in a recent newsletter.
Some of these companies, Remarkably digital.
Ledn’s Bitcoin-backed loan originations will exceed $1 billion by 2025
Digital Asset Lender Ledn reported a record quarter For credit products backed by Bitcoin, featuring a growing trend among long-term holders who prefer to borrow against their assets rather than sell them.
The company originated $392 million in BTC-backed loans in the third quarter, pushing year-to-date originations over $1 billion. Since its inception, LEDN has issued more than $2.8 billion in total loans.
Ledn is considered one of the Three largest centralized financial (CEFI) lendersalongside tether and galaxy digital. Together, these firms account for approximately 89% of the CEFI lending market.
Borrowing against Bitcoin has become increasingly popular as the price of the cryptocurrency continues to climb, allowing investors to unlock liquidity without giving up exposure to the asset’s long-term upside.
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