Stripe and Circle have plans to launch their own layer-1 blockchains, prompting discussions about why corporations often choose this route over Layer 2 solutions. Critics argue that these new chains may not contribute to Ethereum’s ecosystem and could diminish the value for ETH holders. Experts like Ethan Buchman and Christian Catalini have suggested that stablecoin issuers seek to control their networks to maximize profits, paving the way for significant influence in the fintech space. The CEO of Phantom, Brandon Millman, highlighted that multichain strategies are often adopted purely for business reasons, showcasing that performance metrics, such as liquidity and trading volume, guide these decisions. Companies like Aave are also exploring multichain deployments, although profitability remains a challenge on some Layer 2 solutions. Ultimately, despite desires for loyalty or altruism, market dynamics and self-interest remain paramount in corporate strategies within the evolving crypto landscape.

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