According to Coin World, the total Circulating Supply of stablecoins has reached $287 billion, with USDT and USDC accounting for 85% of the market share. Issuers like Tether and Circle are accelerating the development of their own public chains to achieve zero-fee transactions and stablecoin payment Gas through chains like Plasma and Arc, in order to break free from reliance on public chains like Ethereum, enhance value capture, and expand the Compliance payment ecosystem.