Circle Mints $3 Billion USDC on Solana, Highlighting Institutional Interest

Circle has announced the minting of $3 billion in USDC on the Solana blockchain within a 24-hour period, representing one of the largest single-day issuances of USDC on Solana. This event is part of a broader trend observed throughout 2026, indicating a growing preference among institutional investors for Solana as a destination for stablecoin liquidity.

This recent minting is not an isolated incident; Circle has been progressively increasing USDC issuance on Solana, often in increments of $250 million. In August 2026 alone, approximately $11 billion in gross USDC mints were recorded on Solana, with the circulating supply surpassing $8 billion for the first time, accounting for over 10% of the global USDC supply.

Notably, Circle's partnership with BNY Mellon, established in June 2026, aims to streamline the minting and custody of USDC for large institutions, facilitating easier access to Solana's decentralized finance (DeFi) ecosystem.

While Ethereum remains the dominant platform for USDC, the recent trends suggest that Solana is gaining traction due to its lower transaction fees and faster processing times, which are critical for high-volume stablecoin transactions.