Tether has issued $500 million in USDT on the Solana blockchain, completing the process in less than one hour. This addition increases the total supply of native SPL-standard USDT on Solana to approximately $3.8 billion to $4 billion.
The issuance coincides with a separate mint of $250 million in USDC by Circle on the same network. Tether also executed a transfer of $500 million in USDT to the Binance exchange using the Solana infrastructure.
While Solana continues to grow as a venue for high-volume operations, its USDT supply remains smaller than that of the Tron network, which holds the largest share of USDT circulation globally. Tether first launched USDT on Solana in September 2020.
Market analysts view these large-scale mints as indicators of rising demand for liquidity from institutional trading desks, DeFi protocols, and exchanges. Tether issues new tokens only after receiving equivalent dollar-denominated collateral.
