$USDC Circle (USDC Issuer) plans to cooperate for a public offering, with a valuation in the billions, highlighting the value of the stablecoin sector. As a compliance leader, Circle relies on USDC (with a circulation of 53 billion) to occupy 25% of the stablecoin market, with primary income coming from government bond interest. Despite having other competitors, its cross-chain layout and institutional transparency still have advantages, firmly holding the second position. In the long run, compliant stablecoins have enormous potential in the integration of traditional finance, and the application scope of compliant stablecoins continues to expand.