Major stablecoin issuers launch proprietary chains threatening Ethereum L2 strategy

15-8-2025 – Stripe, Circle, and Tether’s recent deployment of proprietary blockchain networks poses a direct challenge to Ethereum’s Layer 2 ecosystem, according to analysis. The proprietary chain trend reflects stablecoin issuers’ preference for complete operational control over their infrastructure rather than relying on decentralized security models. These companies prioritize capturing sequencer revenue, MEV opportunities, and [. source: https://www.cointrackdaily.com/major-stablecoin-issuers-launch-proprietary-chains-threatening-ethereum-l2-strategy/