#Circle扩大IPO规模

Once belonging to DeFi and airdrop players, stablecoins are now fully taken over by US stocks, Wall Street, and government bond funds. This is not a small narrative, but a reconstruction of the on-chain dollar order.

What does Circle's upcoming listing in the US mean?

✅ Significance 1: Stablecoins are becoming "digital US Treasuries"

The essence of USDC is US Treasury yield + on-chain settlement capability.

Stablecoins are transforming from "on-chain payment tools" into "interest rate arbitrage + dollar dissemination tools" in the eyes of Wall Street. Whoever controls stablecoins controls the next round of on-chain financial sovereignty.

✅ Significance 2: RWA is the "landing craft" for TradFi to penetrate the crypto world

RWA ≠ tokenization of land and real estate, but rather the on-chain re-issuance of "government bonds, funds, and cash flow assets."