That only makes sense if Stripe issues their own stablecoins? If they let their customers hold USDC on the Tempo chain, then any revenue from holding short-term treasuries goes to Circle. Are you suggesting Stripe would force Circle to share some of their revenue with them or they launch their own stablecoin to compete with USDC?

Good point. In the scenario I described, I'm assuming Stripe will launch their own stablecoin. I tend to think all major tech companies are incentivized to launch stablecoins and give you discounts and perks when you transact using their stablecoin in their own ecosystem. The more of their stablecoin they issue out, the more money they make on interest.

Stripe already has their own stablecoin: https://www.bridge.xyz/news/usdb