USD Coin (USDC) issuer Circle (NYSE: CRCL) has minted 250 million items of the dollar-pegged stablecoin on the Solana blockchain, marking a big growth of the cryptocurrency’s presence on one of many fastest-growing decentralized finance (DeFi) ecosystems on the earth.
The issuance, which befell on Friday, September 19, was first reported by Whale Alert and underscores the rising demand for USDC liquidity in each institutional and Decentralized Finance (DeFi) use circumstances. The transfer is a part of Circle’s technique to extend the stablecoin’s provide on Solana, straight impacting the blockchain’s liquidity provisions by enhancing buying and selling alternatives and the potential progress of native purposes.
Circle Mints $250 Million in USDC on Solana, Whole Provide Grows by $10 Billion in 30 Days
The most recent mint follows a speedy growth of USDC provide on Solana, which has grown from $2.5 billion to $10 billion in a matter of weeks. Whereas the mint was acknowledged by the broader market, it’s seen as a recurring train to take care of liquidity somewhat than a radical transfer by each entities.
USDC’s progress on Solana could be attributed to elevated exercise on DeFi platforms like Wormhole and LayerZero, which allow seamless token exchanges and transfers throughout varied blockchains. It additionally displays a strategic shift by institutional buyers and DeFi protocols to capitalize on Solana’s extremely scalable community structure for high-velocity stablecoin operations, whereas leveraging its low charges and quick transaction speeds.
The development is in step with large-scale token minting actions undertaken by Circle all through 2025. The corporate beforehand issued $250 million in USDC on Solana in April, Might, June, and August, with Friday’s mint being the latest occasion. USD Coin is essentially the most dominant stablecoin on Solana, sustaining a 77% market share.
Specialists attribute the elevated minting exercise to rising demand for stablecoins throughout DeFi protocols and associated transactions throughout a number of blockchains. Since its launch in 2018, USDC has turn out to be a dominant participant within the stablecoin market, with 26% of its whole worth locked (TVL) in decentralized lending protocols, resembling Aave and Compound, with $2.6 billion value of tokens held on Aave alone. Moreover, 34% of decentralized alternate (DEX) liquidity swimming pools now help USDC, dealing with over $4.9 billion in each day buying and selling quantity for the second-largest stablecoin and seventh-largest cryptocurrency by market capitalization.
Regulatory Strikes in U.S. & E.U. Enhance Confidence in Compliant Stablecoins like USDC
In the meantime, key regulatory developments have additionally supported USDC’s astronomical rise. In January 2025, U.S. President Donald Trump signed an government order classifying stablecoins as “important monetary devices” which can be key to sustaining the U.S. greenback’s hegemony as the worldwide reserve forex, whereas the European Union’s Markets in Crypto Belongings (MiCA) framework, which sidelined non-compliant stablecoins, helped reinforce USDC’s prospects. These initiatives have bolstered investor confidence, particularly amongst institutional gamers, who’re more and more counting on stablecoins for fast settlements and redemptions of tokenized monetary devices.
Circle CEO Jeremy Allaire emphasised Solana’s function in supporting real-time funds and high-throughput for stablecoin utilization. He famous that the blockchain’s excessive efficiency makes it a vital layer for mainstream stablecoin rails. The present velocity at which USDC is minted, transacted, and burned on Solana is inside 31.6 days, additional cementing the community’s function as a high-speed liquidity automobile.
In line with studies, Circle has issued a cumulative $24.75 billion in USDC on Solana. The most recent mint is a part of a $1.25 billion improve within the token’s provide over the previous week, additional indicating sustained curiosity for high-frequency transactions, cross-chain swaps, and real-world asset (RWA) tokenization.
Circle (CRCL) was buying and selling at $144.14 when markets closed on Friday, up 3.72% for the day. Solana (SOL) is at present buying and selling at $221.07, down 7.69% in 24 hours.
