THE EVM IS WALL STREET'S NEW MICROSOFT EXCEL

Summary from the TLDR Crypto newsletter

Circle's Arc is an EVM-compatible L1 chain with 20 permissioned validators from regulated institutions. Stripe is building its own L1 called Tempo, likely using Paradigm's RETH client. While it remains uncertain whether these corporate chains will issue tokens or encourage external developer adoption, they represent a significant expansion of Ethereum Virtual Machine usage into traditional finance. TradFi companies are increasingly required to hire EVM developers as the technology becomes essential infrastructure, similar to how Microsoft Excel became ubiquitous in finance. This trend of EVM adoption by major financial institutions potentially creates indirect value capture for ETH as the central asset of the Ethereum ecosystem.