USDT and USDC have announced that in the future, their tokens will be used for payments only on their own networks, and that fees will be charged exclusively in their tokens.
USDC issuer Circle to launch new layer-1 Arc blockchain this year
This is likely bad news for most altcoins like Ethereum, solane ,Tron, BNB, and others, since people mainly use them for tokenized dollars
that move makes sense for the stablecoin issuers but it could really change the game.. if usdt & usdc lock users into their own blockchains then a lot of the daily activity on ethereum, tron, solana and even bnb chain could shrink since most people don’t hold those coins for themselves but just to move stablecoins around.. at the same time it might backfire because people also like having stablecoins on open networks where they can plug into defi, nfts and other tools... if they wall themselves off too much they risk losing the network effects that made them big in the first place