Circle minted $3 billion worth of USDC on the Solana blockchain in a 24-hour period, marking one of the largest single-day stablecoin issuances on the network. Approximately $11 billion in gross USDC mints occurred on Solana in August 2026 alone, pushing the circulating supply past $8 billion, representing over 10% of the global USDC supply. BNY Mellon expanded its partnership with Circle in June 2026 to facilitate institutional minting and custody of USDC directly on Solana. Solana is gaining ground on Ethereum due to lower transaction fees and faster finality, which are critical advantages for settling hundreds of millions of dollars in stablecoin transactions daily.
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