In 2025, stablecoin blockchains Plasma and Stable are transforming the stablecoin ecosystem by focusing on dedicated infrastructure development. Plasma, which recently launched its mainnet and token, has quickly ascended to the eighth position in DeFi total value locked (TVL) with $26.76 billion. Meanwhile, Stable has successfully completed two deposit rounds, amassing over $26 billion in total deposits. Both projects are moving away from interest-based profits, instead aiming to capture transaction fees as a primary revenue source. Plasma is targeting retail users in emerging markets, while Stable is concentrating on institutional and B2B settlements. This strategic focus highlights a significant shift in the stablecoin landscape, as these blockchains redefine how stablecoins are integrated into global financial systems. Additionally, Circle's Arc and Stripe's Tempo are offering alternative models that emphasize compliance and neutrality, further diversifying the stablecoin infrastructure landscape.