The stablecoin market has exploded to $300 billion, but infrastructure is fragmenting, not consolidating. Major players like Circle (Arc) and Stripe (Tempo) are building their own blockchains to control the rails, while USDC ($1.00) remains scattered across dozens of chains. The real bottleneck isn't technology—it's coordination. XDC ($0.05) Network's case study shows that simultaneous exchange adoption can break the "bootstrap trap" that kills most new blockchain stablecoin deployments. As the market heads toward $2-4 trillion by 2030, the critical question is whether proprietary chains or coordinated network adoption will win the infrastructure war.
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