Circle issued $3 billion in USDC on the Solana blockchain within a 24-hour period. This transaction marks one of the largest single-day mints for the network to date, reflecting a broader trend of institutional capital shifting toward Solana for stablecoin liquidity throughout 2026.
The company has been increasing issuance in tranches, often in increments of $250 million. In August 2026 alone, gross mints on Solana reached approximately $11 billion. By the end of that month, the circulating supply of USDC on Solana exceeded $8 billion, accounting for over 10% of the total global supply.
Data from earlier in the year shows consistent growth. In June 2026, Circle minted $500 million on June 8, followed by a $1 billion mint in mid-June. On June 29, the firm issued $910 million on Solana while burning $250 million on Ethereum. By mid-July, gross issuance on Solana ranged between $64 billion and $68 billion.
BNY Mellon expanded its partnership with Circle in June 2026 to support institutional minting and custody directly on Solana. This collaboration aims to simplify access to Solana’s DeFi ecosystem for large institutions, bypassing the need for bridging assets from Ethereum.
