15/ This is why stablecoin issuers have strong incentives either to commoditize the rails—by issuing on multiple networks and positioning themselves at the center of interoperability across them (e.g., Circle’s CCTP)—or to nudge most activity to a network they control, such as a new L2 or a higher‑level protocol like CPN. Either strategy gives them a shot at becoming massive global fintech leaders and capturing most of the value the technology creates.