In recent years, stablecoins have quietly become an important player in the Crypto Assets market, with their influence continuing to rise. From cross-border payments to trading settlements, and compliance pilot programs, stablecoins play an indispensable role in the flow of encrypted capital.

In 2023, the stablecoin sector has undergone significant changes. Issuers are no longer satisfied with relying on existing blockchains but are beginning to independently develop their own public chains. Circle launched the Arc project, and Stripe-led Tempo quickly followed suit. These two stablecoin giants took this step almost simultaneously, and the strategic implications behind it are thought-provoking.

Why do stablecoins need an independent blockchain? In this seemingly institutional competition, do ordinary investors still have a chance to participate? When stablecoins control their own ecosystem, will the status of traditional public chains like Ethereum and Solana be challenged?

We will explore these issues from the following aspects:
1. The essence of stablecoin public chains and their differences from traditional public chains
2. Comparison of the technical routes of major projects
3. The potential impact of stablecoin public chains on Ethereum
4. Possible ways for individual investors to participate

Stablecoin public chain: a blockchain closer to the clearing system

Unlike public chains such as Ethereum and Solana that focus on decentralized applications, stablecoin public chains are closer to the financial clearing layer. These public chains have the following characteristics:

1. The transaction processing speed is faster, making it more suitable for large-scale financial operations.
2. Higher security and stability, compliant with regulations
3. Focus on payment and settlement functions, reducing the risks brought by complex smart contracts.
4. It may adopt a consortium chain or hybrid chain model, seeking a balance between decentralization and efficiency.

The emergence of stablecoin public chains signifies that the Crypto Assets ecosystem is developing towards a more specialized direction, closely aligned with traditional financial systems. This trend may bring new opportunities and challenges to the entire industry, warranting our close attention.