The race to build stablecoin infrastructure is accelerating on Wall Street and across corporate America. Citigroup is advancing plans to expand its stablecoin payment capabilities, amid growing speculation that major financial institutions are exploring stablecoin initiatives following the passage of the US GENIUS Act — comprehensive legislation expected to take effect in early 2027. Beyond banks, Western Union is also stepping into the space, announcing plans to develop a stablecoin payment network on Solana, highlighting how traditional payment providers are leveraging blockchain technology for faster and more affordable cross-border transactions.
Meanwhile, the Bitcoin mining sector is witnessing increased competition. Mid-tier miners are rapidly closing the gap on industry leaders after the 2024 halving. Smaller publicly listed mining firms such as Cipher Mining, Bitdeer, and HIVE Digital have significantly increased their realized hashrate, highlighting a notable shift in market dynamics. Some of these miners, including HIVE Digital, are diversifying into artificial intelligence and high-performance computing, signaling strategic evolution within the industry.
In digital lending, Ledn reported over $1 billion in Bitcoin-backed loan originations this year, reflecting a growing trend of investors borrowing against their BTC holdings rather than selling. Ledn’s record-quarter performance underlines the rising demand for credit products secured by digital assets.
Citigroup is partnering with crypto exchange Coinbase to drive stablecoin payments, focusing initially on facilitating smoother client transitions between crypto and fiat currencies. Debopama Sen, Citi’s head of payments, emphasized the bank’s commitment to developing on-chain stablecoin payment solutions in response to rising client demand for faster, programmable transactions. Citi projects the stablecoin market could expand to $4 trillion by 2030, a significant leap from its current $315 billion valuation.
Western Union’s move into blockchain involves creating a Digital Asset Network on the Solana blockchain and introducing a US Dollar Payment Token (USDPT) in partnership with Anchorage Digital Bank. Set to launch by mid-2026, the USDPT aims to boost accessibility and liquidity via partnerships with multiple crypto exchanges. CEO Devin McGranahan affirmed Solana as the optimal platform, chosen for its speed and scalability.
Bitcoin miners are entering a new era of heightened competitiveness post-halving, as mid-tier miners scale up production and diversify their operations. Data from The Miner Mag reveals that companies like Cipher Mining and HIVE Digital are ramping their realized hashrate, challenging established players like MARA Holdings and CleanSpark.
The trend of borrowing against Bitcoin is gaining traction as prices climb, allowing investors to unlock liquidity while maintaining exposure to potential long-term gains. Ledn’s achievements highlight this shift in investor behavior, with more than $2.8 billion in loans issued since inception and significant originations in 2025 alone.
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