Circle and Stripe Build Proprietary Blockchain as Stablecoin Projects Surge
BlockBeats reports that Circle and Stripe are developing their own blockchain, joining a wave of initiatives focused on stablecoin and tokenized asset networks. Startups like Plasma and Stable have secured funding to create a dedicated USDT chain, while Securitize and Ethena are collaborating on Converge. Ondo Finance also revealed plans for its own chain earlier this year, and Dinari recently announced a layer-1 network on Avalanche for tokenized stock settlement.
Martin Burgherr, Chief Client Officer at Sygnum, highlighted that building a layer-1 blockchain offers control and strategic advantages. Stablecoin ecosystems prioritize fast settlement, interoperability, and regulatory compliance, which proprietary chains can optimize by embedding compliance, integrating forex engines, and ensuring predictable fees.
Defensive motivations also play a role. Burgherr explained, "Stablecoin issuers currently depend on Ethereum, Tron, or other platforms for settlement, exposing them to external fee volatility, governance decisions, and technical limitations."
