The race to develop stablecoin infrastructure is heating up throughout Wall Road and company America. Citigroup is transferring forward with plans to increase its stablecoin cost capabilities, amid rising hypothesis that main monetary establishments are exploring stablecoin initiatives following the passage of the US GENIUS Act — complete laws anticipated to take impact in early 2027.
The momentum extends past banks. Western Union introduced plans to construct a stablecoin cost community on Solana, underscoring how conventional cost suppliers are embracing blockchain for quicker and cheaper cross-border transactions.
In the meantime, the Bitcoin (BTC) mining panorama is turning into more and more aggressive, with smaller operators quickly closing the hole on trade leaders. And in digital lending, Ledn reported greater than $1 billion in Bitcoin-backed mortgage originations this yr — proof that traders are more and more opting to borrow towards their BTC holdings relatively than promote.
Citi companions with Coinbase on stablecoin funds
Citigroup is eyeing stablecoin funds as its subsequent main development driver, partnering with crypto alternate Coinbase to increase its digital asset capabilities. The initiative initially focuses on making it simpler for shoppers to maneuver between crypto and fiat currencies.
Debopama Sen, Citi’s head of funds, stated the transfer displays rising shopper demand for quicker, extra programmable cost choices. The financial institution is “exploring options to allow onchain stablecoin funds for our shoppers,” Sen stated.
The announcement comes roughly a month after Citi projected that the stablecoin market may surge to $4 trillion by 2030, up from about $315 billion immediately.
Following the passage of the US GENIUS Act, a number of main Wall Road banks, together with JPMorgan and Financial institution of America, are reportedly exploring their very own stablecoin initiatives.
Western Union selects Solana for stablecoin settlement community
World remittance large Western Union is creating a brand new digital asset settlement system constructed on the Solana blockchain, a transfer highlighting the corporate’s concentrate on transaction velocity and scalability because it embraces digital belongings.
Throughout its third-quarter earnings name, Western Union introduced plans to launch an ecosystem that features a US Greenback Fee Token (USDPT) and a Digital Asset Community, developed in partnership with Anchorage Digital Financial institution, a federally chartered crypto financial institution that gives custody and infrastructure companies.
USDPT is anticipated to debut within the first half of 2026, with partnerships throughout a number of crypto exchanges to boost accessibility and liquidity.
“We checked out alternate options, and got here to the conclusion that Solana was the correct selection,” Western Union CEO Devin McGranahan stated on the Cash 20/20 USA convention.
Mid-tier Bitcoin miners achieve floor in post-halving shakeup
The Bitcoin mining trade is rising more and more aggressive within the post-halving period, as a brand new wave of mid-tier firms quickly features market share and challenges established leaders.
In accordance with knowledge from The Miner Magazine, smaller publicly listed miners, together with Cipher Mining, Bitdeer and HIVE Digital, have considerably boosted their realized hashrate after years of heavy infrastructure funding. These firms at the moment are narrowing the hole with prime gamers resembling MARA Holdings, CleanSpark and Cango.
“Their ascent highlights how the center tier of public miners — as soon as trailing far behind — has quickly scaled manufacturing because the 2024 halving,” The Miner Magazine wrote in a latest e-newsletter.
A few of these firms, notably HIVE Digital, are additionally diversifying past Bitcoin mining into synthetic intelligence and high-performance computing workloads — signaling a broader strategic shift throughout the trade.
Ledn’s Bitcoin-backed mortgage originations surpass $1 billion in 2025
Digital asset lender Ledn reported a report quarter for its Bitcoin-backed credit score merchandise, highlighting a rising development amongst long-term holders preferring borrowing towards their belongings relatively than promoting them.
The corporate originated $392 million in BTC-backed loans in the course of the third quarter, pushing its year-to-date originations above $1 billion. Since inception, Ledn has issued greater than $2.8 billion in complete loans.
Ledn is considered one of many three largest centralized finance (CeFi) lenders, alongside Tether and Galaxy Digital. Collectively, these corporations account for roughly 89% of the CeFi lending market.
Borrowing towards Bitcoin has change into more and more widespread because the cryptocurrency’s worth continues to climb, permitting traders to unlock liquidity with out giving up publicity to the asset’s long-term upside.
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