Stablecoin launches are skyrocketing: Western Union is the latest Fortune 500 company to launch a stablecoin, USDPT, as volumes have skyrocketed. This follows Fidelity's first stablecoin launch, Fidelity Digital Dollar, FIDD, for retail and institutional investors. As a result, the market cap of stablecoins on Solana has risen to $15 BILLION. However, when you zoom out, they are all the same product: peg to the dollar, back with reserves, and keep the yield. As a result, competition is growing with innovative stablecoins looking to return yield back to the ecosystem, such as the recent launch of Jupiter's JUPUSD. As big players pile in, the stablecoin market is being disrupted.(The Kobeissi Letter)