Exchanges are evolving into full ecosystems, offering their product suites on customized blockspace. It says a lot about where the industry is heading when companies like this decide to build their own chains. The reasons vary: full control with minimal operational overhead, or a chain customized to meet regulators where they're at. But sometimes it's more simple than that. They want to build on a foundation they trust so they can spend their time on the products, not the plumbing.(Optimism)