Institutions Turn to Purpose-Built Blockchains as Privacy Concerns Drive Shift Away from Ethereum

Financial institutions are shifting away from Ethereum (ETH) and opting for purpose-built blockchains tailored to meet their institutional needs. Recent developments, such as Klarna’s launch of its stablecoin on an alternative network and the rise of privacy-focused chains like Canton, raise questions about the network’s dominance. Corporate Blockchain Adoption Signals New Threat to Ethereum: Here’s Why On November 25, Klarna announced KlarnaUSD, becoming the first bank to issue a stablecoin on Tempo, a payments blockchain from Stripe and Paradigm. This decision has sparked debate in the crypto community source: https://beincrypto.com/institutions-shift-from-ethereum-to-private-blockchains/