Actually, when it comes to public chain infrastructure, the more participants in the stablecoin space, the better. Ultimately, we need a settlement layer chain that everyone trusts, and that’s Ethereum. More players (issuers, institutions, RWA projects, payment integrators) entering the stablecoin ecosystem will strengthen Ethereum’s network effects. Even if payments aren’t temporarily happening on Ethereum L1, from a security perspective, everyone will eventually need a neutral, verifiable, secure, and developer-rich foundational settlement layer for large or complex transactions. Whether it’s USDT, USDC, OUSD, or Plasma, Tempo—no matter which chain they’re issued on first—the more stablecoin players there are, the better it is in the long term for the only truly decentralized public chain.