[Circle: The essence of stablecoins is dollars transferable via the internet] According to a report by Jinse Finance on July 20, Circle stated that the core logic behind understanding USDC and the rapid implementation of its various application scenarios is simple: It is a blockchain-based dollar, backed 1:1 by fully reserved high-liquidity quality assets and subject to compliance regulations. After the 'GENIUS Act' takes effect next January, USDC will become a core component of the U.S. financial system. For regular users: It enables 24/7 transfers, as fast as sending an email, secure, reliable, and with low fees. For enterprises: It can be used for treasury management; financial institutions can leverage it to pay margins at clearinghouses, significantly improving operational efficiency.