Solana News Today: Solana's Rise: How USDC is Reshaping Digital Finance

Circle has recently executed a significant USDC minting event, with $250 million of its USD Coin (USDC) being minted on the Solana blockchain. This move is part of a broader trend where the company has pushed USDC issuance on Solana to $24 billion in 2025, according to on-chain data gathered on 18 August. The total supply of USDC on Solana has now reached approximately $11.4 billion, reflecting a threefold increase compared to levels recorded in July 2024. The increased supply of USDC on Solana underscores the platform’s growing role in the fast-evolving stablecoin market.

Solana, known for its high transaction speed and low costs, processed $215 billion in stablecoin transfers alone in July 2025, highlighting the blockchain’s expanding share in the market for tokenized dollars. The use of stablecoins continues to grow, with the overall stablecoin market now valued at approximately $277 billion, representing 7.02 percent of the total crypto asset class. Analysts at Goldman Sachs have noted that the addressable market for stablecoins could reach the “trillions” as institutional demand for digital cash substitutes increases.

Circle’s recent USDC minting on Solana is not an isolated event. Throughout the past 30 days, over $5.5 billion of USDC was minted on the platform, with $750 million of that amount issued in a single day—the largest daily minting event to date. These figures reflect the blockchain’s critical role in on-chain financial infrastructure, particularly in supporting liquidity and DeFi activity. Circle’s strategy emphasizes routine minting to maintain liquidity, rather than speculative market interventions. The increased availability of USDC on Solana supports the blockchain’s broader mission to enhance scalability and efficiency for institutional and decentralized finance applications.

Solana’s infrastructure is particularly well-suited for stablecoin operations, thanks to its capacity to process up to 65,000 transactions per second at a low cost per transaction. These attributes make it a compelling alternative to Ethereum for high-volume, cost-sensitive applications. The platform’s efficiency and scalability have been key to attracting institutional adoption, especially for dollar-pegged stablecoins like USDC, which offer both regulatory compliance and market stability. This has helped to drive innovation in DeFi, including the development of automated market makers (AMMs) and decentralized exchanges (DEXs).

Beyond Solana, USDC is also seeing use in innovative financial transactions. Bullish, a digital asset platform, became the first company to use stablecoins in an IPO, with $1.15 billion in proceeds from its offering settled in both US dollar and euro-denominated stablecoins. The transaction involved Circle’s USDC and EUR CoinVertible (EURCV) and was facilitated by Jefferies, with Coinbase handling custody. This IPO marks a significant milestone in the integration of stablecoins into traditional financial systems and highlights the potential for instant settlement and cross-border compatibility.

The growing adoption of stablecoins across both blockchain and traditional financial systems underscores their increasing role as a bridge between digital and institutional finance. As more companies explore the use of stablecoins for capital-raising and settlement, the demand for multi-chain liquidity and cross-chain interoperability is expected to grow. This trend reinforces the strategic importance of stablecoins like USDC in enabling efficient capital allocation and expanding the reach of blockchain-based financial services.

Source:

[1] Circle Pushes 2025 USDC Minting on Solana to $24 Billion (https://thedefiant.io/news/blockchains/circle-pushes-2025-usdc-minting-on-solana-to-24-billion-9f93595b)

[2] USDC, Solana, and Circle: How $5.5 Billion Minting is ... (https://www.okx.com/learn/usdc-solana-circle-defi-minting)

[3] Bullish is First to Use Stablecoins in IPO (https://www.marketsmedia.com/bullish-is-first-to-use-stablecoins-in-ipo/)