Circle and Stripe are building proprietary blockchains to enhance digital asset payment systems. Startups Plasma and Stable are securing funds to create dedicated chains for USDT.
Securitize is partnering with Ethena on a project known as Converge, while Ondo Finance plans to launch its internal blockchain later this year.
According to Martin Burgherr, the Chief Client Officer at Sygnum, having a proprietary Layer 1 network is essential for control, influencing the settlement speeds and regulatory compliance of stablecoins.
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