{"id":95443,"date":"2026-03-20T20:13:02","date_gmt":"2026-03-20T17:13:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95443"},"modified":"2026-03-20T20:16:10","modified_gmt":"2026-03-20T17:16:10","slug":"analysts-warn-of-a-war-among-stablecoin-networks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/analysts-warn-of-a-war-among-stablecoin-networks\/","title":{"rendered":"Analysts warn of a &#8216;war&#8217; among stablecoin networks"},"content":{"rendered":"<p>Major issuers of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> and fintech firms are building their own blockchains to secure an edge and greater control over payments, according to Delphi Digital.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The next wave of blockchains is built to settle payments instead of tokens.<\/p>\n<p>General purpose chains weren&#8217;t designed for institutional payment flows. A new wave of chains built for stablecoin payments is filling that gap, and none of them are going after the same market.<\/p>\n<p>The two\u2026 <a href=\"https:\/\/t.co\/cSycn47QXz\">pic.twitter.com\/cSycn47QXz<\/a><\/p>\n<p>\u2014 Delphi Digital (@Delphi_Digital) <a href=\"https:\/\/twitter.com\/Delphi_Digital\/status\/2034841720010285391?ref_src=twsrc%5Etfw\">March 20, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another driver for payment-focused protocols, the analysts argue, is that the previous wave of general-purpose networks was not built for institutional payment flows.<\/p>\n<p>Circle, the firm behind <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a>, launched a <a href=\"https:\/\/forklog.com\/en\/news\/circle-launches-arc-blockchain-testnet\">public testnet<\/a> of its Arc layer-1 blockchain in October 2025. The platform is pitched as an \u201ceconomic operating system\u201d for developers and companies, with limited access.<\/p>\n<p>Tether, issuer of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a>, backs the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-ethereum-virtual-machine-evm\">EVM<\/a>-compatible L1 platform Plasma, optimised for using the stablecoin in cross-border transfers and across emerging markets. The blockchain\u2019s mainnet <a href=\"https:\/\/forklog.com\/en\/news\/plasma-launches-mainnet-and-xpl-token\">debuted<\/a> in September.<\/p>\n<p>Stripe and Paradigm are moving in a similar direction. They built the Tempo platform as a settlement layer geared to enterprise use. In recent years Stripe also acquired <a href=\"https:\/\/forklog.com\/en\/news\/stripe-acquires-bridge-for-1-1-billion\">Bridge<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/payment-giant-stripe-acquires-crypto-wallet-privy\">Privy<\/a> and Metronome, gaining technology needed to implement layers for <a href=\"https:\/\/forklog.com\/en\/news\/stripe-unveils-platform-for-launching-stablecoins\">stablecoin issuance,<\/a> a wallet and invoicing.<\/p>\n<p>The Tempo L1 network <a href=\"https:\/\/forklog.com\/en\/news\/stripe-and-tempo-launch-mainnet-for-ai-agent-payments\">launched<\/a> in March 2026. The project also unveiled an open protocol for machine transactions.<\/p>\n<p>Delphi Digital also highlighted more specialised solutions:<\/p>\n<ul class=\"wp-block-list\">\n<li>Codex \u2014 an aggregated <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rollups-and-how-do-they-scale-ethereum\">rollup<\/a> on OP Stack with a native forex mechanism for banks and money-transfer firms using multi-currency settlement;<\/li>\n<li>1Money \u2014 a blockchain for retail payments and remittances with built-in sanctions controls and anti-money-laundering mechanisms;<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/former-apple-engineer-launches-payy-visa-card-for-private-crypto-transactions\">Payy<\/a> \u2014 a network for institutions that provides the transaction privacy they require by default.<\/li>\n<\/ul>\n<p>Asked why stablecoin projects do not simply use existing platforms, the analysts stressed:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe problem is that today\u2019s general-purpose blockchains were not designed with payments\u2014let alone institutional flows\u2014as a primary goal. Instead, most are optimised for a completely different set of priorities, namely permissionless execution and broad composability. Their generality is not accidental.\u201d<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Stablecoins take on new roles<\/h2>\n<p>Stablecoins can help outpace competitors through more efficient settlement; they may also improve cash flows and free up trapped working capital. Some 74% of respondents to a Ripple survey of more than 1,000 executives at banks, asset managers, fintechs and corporations agreed.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Ripple surveyed 1,000+ global finance leaders in 2026. A few things stood out: <a href=\"https:\/\/t.co\/414dTO9Qit\">https:\/\/t.co\/414dTO9Qit<\/a><\/p>\n<p>\u2192 72% say digital assets are now table stakes to stay competitive<br \/>\u2192 74% see stablecoins as a cash-flow tool, not just a payment rail<br \/>\u2192 89% of those surveyed say digital\u2026<\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/2034631586369466386?ref_src=twsrc%5Etfw\">March 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSuch unanimity clearly shows that financial leaders view stablecoins not just as a new way to make payments. Increasingly, they see them as treasury-management tools. This is a more conservative domain, examining the indisputable benefits of using blockchain technology to move value,\u201d the report\u2019s authors observed.<\/p>\n<\/blockquote>\n<p>Fintechs are the most active users of fiat-pegged tokens: 31% use stablecoins to collect customer payments, and 29% of respondents in this group accept the assets directly.<\/p>\n<h2 class=\"wp-block-heading\">Tokenisation on the march<\/h2>\n<p>In all, 72% of respondents believe financial firms must offer digital-asset solutions to stay competitive today.<\/p>\n<p>The survey underscored the rise of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rwas-real-world-assets\">tokenised products<\/a>: most respondents are actively seeking partners to pursue such initiatives. Of these, 89% cited custody as a top priority and 82% pointed to token lifecycle management.<\/p>\n<p>More than half of fintechs and financial institutions prefer end-to-end providers; among banks the figure reaches 71%.<\/p>\n<p>Almost unanimously (97%), respondents expect potential partners to have ISO and SOC II certification. Also important are post-integration operational support (88%), domain experience (80%) and financial stability (79%).<\/p>\n<p>In March, experts <a href=\"https:\/\/forklog.com\/en\/news\/corporations-accelerate-stock-market-transition-to-blockchain\">noted<\/a> that corporations have accelerated the shift of stock markets onto blockchains.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major stablecoin issuers and fintechs are building proprietary blockchains to gain an edge and control over payments, Delphi Digital says.<\/p>\n","protected":false},"author":1,"featured_media":95444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Delphi Digital says stablecoin issuers and fintechs race to build payment-focused blockchains.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1282,1652,807],"class_list":["post-95443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-blockchain-platforms","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"129","promo_type":"1","layout_type":"1","short_excerpt":"Delphi Digital says stablecoin issuers and fintechs race to build payment-focused blockchains.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95443"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95443\/revisions"}],"predecessor-version":[{"id":95445,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95443\/revisions\/95445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95444"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}