Stablecoin-funded card payments on Solana reached a new monthly record of approximately $141 million in October. Paymentscan data put the tracked volume at $113.9 million, up from $19.7 million a year earlier, representing 478% growth. The increase continues a streak of monthly records, supported by Visa partnerships, issuer rewards, low transaction fees and Solana’s high throughput. USDC and USDT account for about 58% and 26% of volumes, respectively, while Solana’s stablecoin supply has exceeded $15 billion. The growth also creates concentration risks around a small number of card programs and leading stablecoin issuers.
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