Heard Stripe and Circle are building their own blockchains—what’s that about?

I stumbled onto an article the other day saying that Stripe is working on a blockchain called Tempo, and Circle is building one called Arc, specifically for stablecoins. The idea seems to be that they want to own their whole tech stack—from the blockchain layer right up to the payments and revenue streams.

But I’m scratching my head here—why would big players like Stripe and Circle bother making their own blockchains? I get that Stripe acquired a stablecoin startup (Bridge) and a wallet company (Privy) to build a full stablecoin ecosystem. And Circle apparently pulls almost all its revenue from Treasury bond interest, so maybe building their own blockchain is a move to diversify income and capture transaction fees directly. But is that really the main reason, or is there more to it?

Also, with all these companies creating different blockchains and stablecoins, isn’t that going to confuse average users even more? Like, how many chains and tokens can one person realistically keep track of?

Just wondering what others think: is this smart vertical integration, or are they overcomplicating things and risking fragmentation and user confusion? Anyone seen this kind of strategy succeed—or fail—in real life?