The race to develop stablecoin infrastructure is intensifying across Wall Street and corporate America. Citigroup is advancing its stablecoin payment capabilities as major financial institutions explore these digital assets following the upcoming US GENIUS Act, set to take effect in early 2027. Beyond banks, Western Union plans to build a stablecoin payment network on the Solana blockchain, signaling traditional payment providers’ embrace of blockchain for faster, cheaper cross-border transactions.
In Bitcoin mining, mid-tier operators are rapidly closing the gap with industry leaders post-halving, while digital lending sees strong growth. Ledn surpassed $1 billion in Bitcoin-backed loan originations this year, reflecting growing investor preference to borrow against BTC holdings instead of selling.
Citigroup has partnered with Coinbase to enhance stablecoin payments, aiming to ease client transfers between crypto and fiat currencies. According to Debopama Sen, Citi’s head of payments, this move addresses increasing client demand for faster, programmable payment options. Citi projects the stablecoin market could soar from $315 billion today to $4 trillion by 2030. Other major banks like JPMorgan and Bank of America are also exploring stablecoin initiatives.
Western Union is creating a digital asset settlement system on Solana, focusing on transaction speed and scalability. The company will launch a US Dollar Payment Token (USDPT) and a Digital Asset Network in partnership with Anchorage Digital Bank, with USDPT expected in the first half of 2026, supported by several crypto exchange partnerships.
Bitcoin mining is becoming more competitive as mid-tier miners such as Cipher Mining, Bitdeer, and HIVE Digital significantly increased their realized hashrate post-2024 halving, challenging top players like MARA Holdings and CleanSpark. Some miners like HIVE Digital are also expanding into artificial intelligence and high-performance computing, signaling strategic diversification.
Ledn’s record quarter in Bitcoin-backed lending, with $392 million originated in Q3 2025 and over $1 billion year-to-date, highlights a shift among long-term holders opting to borrow rather than sell. Ledn is among CeFi lending leaders alongside Tether and Galaxy Digital, collectively dominating about 89% of the market. Borrowing against Bitcoin lets investors access liquidity while maintaining exposure to its price appreciation.
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