Ethereum News Today: Ethereum's Stablecoin Supremacy Fuels Infrastructure War as Stripe, Solana Vie for Payment Control

Ethereum has solidified its position as the dominant platform for stablecoin activity, processing a record $2.82 trillion in stablecoin transfers in October 2025, according to The Block. This figure marks a 45% increase from the previous month and underscores Ethereum's role as the backbone of the digital dollar economy. USDC and USDT accounted for the lion's share of the volume, with USDC alone contributing $1.62 trillion and USDT adding $895.5 billion. The surge is attributed to Ethereum's expanding Layer-2 ecosystem, which has enabled faster, cheaper transactions while maintaining the network's security and decentralization, according to a FinanceFeeds analysis.

Layer-2 networks like Arbitrum, Optimism, and Base have been pivotal in scaling Ethereum's stablecoin operations. Arbitrum alone saw over $154 billion in stablecoin volume in the past 30 days, a testament to its appeal for developers and traders seeking low fees and rapid settlement times. The integration of stablecoins across these networks has further entrenched Ethereum's position as the settlement layer for decentralized finance (DeFi). Analysts note that the combination of institutional adoption, real-world asset tokenization, and regulatory clarity positions Ethereum to maintain its lead through 2026.

The stablecoin market itself is on an explosive growth trajectory. A BitMine forecast predicts the market could expand from $300 billion to $2 trillion, with Ethereum powering over half of all issued stablecoins. This projection aligns with a broader industry shift toward infrastructure competition, where control over payment settlement networks and compliance frameworks has become a primary battleground, as noted in a Yahoo Finance report. Circle and Tether are leading the charge, with Circle's Arc and Tether's Plasma and Stable platforms redefining enterprise-grade financial infrastructure.

Regional adoption highlights Ethereum's global reach. In Latin America, stablecoins now dominate cryptocurrency transactions, with 90% of transfer volume on exchanges attributed to USDT and USDC in July 2025; the region's reliance on stablecoins for cross-border payments, savings, and inflation protection has driven an 800% growth in crypto flows since 2021, according to a Bitget report. Meanwhile, Europe's EURAU euro stablecoin, backed by Deutsche Bank and DWS Group, has integrated Chainlink's CCIP to enable multi-chain interoperability across Ethereum, Arbitrum, and Solana, signaling a push for euro-backed digital assets to rival U.S. counterparts, per an EURAU integration.

Institutional confidence in stablecoins is also translating into financial performance. Coinbase's Q3 net income of $432.6 million was driven by surging stablecoin-related revenue, primarily from interest on USDC reserves and increased trading volumes, according to the Coinbase Q3 report. Similarly, Solana's stablecoin supply grew by $152 million in 24 hours, outpacing Ethereum's $140 million increase, as ETF inflows and institutional adoption boosted liquidity, reflecting a notable Solana supply surge.

The infrastructure war is intensifying, with Stripe's Tempo blockchain emerging as a key player. Designed specifically for stablecoins and payments, Tempo blockchain leverages Stripe's 15 years of payment expertise and aims to process 100,000 transactions per second. This development underscores the sector's shift from token dominance to control over the underlying infrastructure that facilitates value transfer.

As regulatory frameworks like the EU's MiCA and the U.S. GENIUS Act take shape, Ethereum's ecosystem appears well-positioned to navigate compliance challenges while capitalizing on innovation. The convergence of DeFi, institutional finance, and cross-chain interoperability is reshaping the stablecoin landscape, with Ethereum at the center of it all.