This week, two significant signals have emerged in the field of encryption finance. According to several insiders who spoke to Decrypt, the cryptocurrency service provider FalconX, with a market valuation of $8 billion, is planning an IPO, and may submit the relevant application documents as early as this year.

At the same time, the stock value of the compliant paradigm Coinbase and its strategic partner Circle in the U.S. stock market continues to rise, and market analysts believe this reflects investors' strong expectations and confidence that "Coinbase may use USDC as a trading medium in the future."

By combining these development clues for analysis, a clear picture has emerged: the "Wall Street model" of the encryption industry is no longer a future aspiration, but a reality that is unfolding. A new paradigm centered on institutional investors, with stablecoins as the settlement basis and compliance listings as the main development path, is accelerating its formation.

To deeply understand FalconX's intention to go public, it is essential to recognize the key position of "prime brokers" in the global financial system. In traditional financial markets, the prime brokerage business of top investment banks is a core advantage project serving large institutional investors. These services not only provide trade execution functions but also include comprehensive solutions such as block trade arrangements, leveraged financing plans, asset custody services, and securities lending.

FalconX has indeed transplanted this mature Wall Street service model into the encryption asset field, paving the final and most critical link for institutional capital to enter the digital asset market.