CoinVoice has recently learned that, according to CoinDesk reports, Circle and Stripe are building their proprietary blockchain, joining an increasing number of projects aimed at launching stablecoin and tokenized asset chains. Startups Plasma and Stable have recently raised funds to develop dedicated chains for USDT (USDT).
Securitize is collaborating with Ethena to build Converge, Ondo Finance announced earlier this year that it will soon launch an internal chain, and just a few days ago, Dinari stated it will soon launch a layer-1 network powered by Avalanche for the clearing and settlement of tokenized stocks.
Sygnum's Chief Client Officer Martin Burgherr stated: “Establishing their own L1 is for control and strategic positioning. The economics of stablecoins are determined by settlement speed, interoperability, and regulatory coordination, thus having a foundational layer allows companies to directly embed compliance, integrate foreign exchange engines, and ensure predictable fees.”
Additionally, there are defensive motives. “Today, stablecoin issuers rely on Ethereum, TRON, or other stablecoins for settlement,” Burgherr said. “This reliance means they must bear the risks of external fee markets, protocol governance decisions, and technical bottlenecks.” [Original link]