BlockBeats News, August 17th, Circle and Stripe are building their proprietary blockchain, joining the ranks of an increasing number of projects aimed at launching stablecoin and asset tokenization chains. Startups Plasma and Stable have recently raised funds for developing a dedicated chain for USDT. Securitize is collaborating with Ethena to build Converge, Ondo Finance announced earlier this year its upcoming native chain, and just a few days ago, Dinari indicated it will soon launch a layer-1 network powered by Avalanche for tokenized stock settlement and clearance.
Cryptocurrency bank Sygnum's Chief Client Officer Martin Burgherr stated: "Building your own L1 is about control and strategic positioning. The stablecoin's economics are determined by settlement speed, interoperability, and regulatory coordination, so having a foundational layer allows companies to embed compliance directly, integrate forex engines, and ensure predictable fees.
Additionally, there is a defensive motivation. "Today, stablecoin issuers rely on Ethereum, Tron, or other stablecoins for settlement," Burgherr said. "This reliance means they have to bear the risks of external fee markets, protocol governance decisions, and technological bottlenecks." (CoinDesk)
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