Solana News Today: Circle Mints $1.25 Billion USDC on Solana in Seven Days, Total Reaches $24 Billion

Circle has minted $1.25 billion in USDC on the Solana blockchain within the past seven days, marking a significant milestone as the total issuance of USDC on Solana reached $24 billion by 2025. This rapid expansion highlights the growing importance of Solana as a settlement layer for stablecoins and cements Circle’s leadership in the fast-evolving stablecoin market. The development reflects increasing demand for USDC across decentralized exchanges, lending platforms, and payment solutions on the Solana network [1].

According to DeFiLlama data, the stablecoin market cap on Solana has grown to $11.6 billion, with USDC dominating 72.2% of the total, or approximately $8.38 billion. This dominance is attributed to USDC’s native integration on Solana—unlike wrapped tokens—enabling broader utility across platforms like Orca, Raydium, and Solend [1]. Over the past week, Solana’s stablecoin supply increased by over $550 million, a 5% rise, indicating sustained inflows and confidence in the ecosystem.

USDC has maintained a stable peg of nearly $1, with a deviation of just 0.02%, reinforcing its reliability in comparison to other stablecoins. Meanwhile, Tether holds 18% of Solana’s stablecoin market with $2.05 billion in circulation, though its supply on the network has declined by over 11% in the past month. Newer entrants such as PayPal’s PYUSD and First Digital USD (FDUSD) are also gaining traction, particularly in payment and real-world asset applications [1].

Stablecoin usage on Solana continues to grow, with Artemis data showing $1.4 trillion in adjusted transaction volume over the past 30 days—a 23% increase. Notably, the average transaction size rose sharply, while the number of unique active stablecoin addresses declined by 22%, indicating a shift toward institutional participation and consolidation into larger wallets [1].

Globally, the stablecoin market reached an all-time high of $261 billion in July, reflecting continued growth across digital asset markets. Circle’s USDC has grown to $63.6 billion in total supply, representing 28% of the global stablecoin market. On Solana, USDC’s share stands at 12.34% ($8.38 billion), placing it as the second-largest USDC deployment after Ethereum [1].

Circle has also expanded its reach through strategic partnerships, including a collaboration with OKX to enable direct USD-to-USDC conversions for 60 million users. The company further integrated USDC and its upgraded Cross-Chain Transfer Protocol (CCTP V2) on Hyperliquid, enhancing liquidity and interoperability. Additionally, Circle announced the development of its own Layer-1 blockchain, Arc, designed to support stablecoin finance, with USDC serving as the native gas token [1].

Despite reporting a $482 million net loss in July due to IPO-related expenses, Circle’s operating performance remained strong, with USDC issuance surging 90% year-over-year to $65.2 billion. Revenue increased by 53% to $658 million, and adjusted EBITDA rose 52% to $126 million, demonstrating the company’s growing financial resilience and market influence [1].

These developments underscore the broader trend of stablecoins becoming a critical infrastructure layer in global finance, with USDC and Solana playing pivotal roles in shaping the future of digital payments and decentralized finance.

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[1] [Circle Mints $1.25B USDC on Solana in 7 Days, Hits $24B in 2025 — Here’s Why It Matters](https://cryptonews.com/news/circle-mints-1-25b-usdc-on-solana-in-7-days-hits-24b-in-2025-heres-why-it-matters/)