Solana Sees Record USDC Mint as Circle Issues $11 Billion

Circle's Solana-based USDC issuance hit an all-time high in August, reaching $11 billion. This is the largest single-month issuance on the network and marks a significant shift in where dollar-backed stablecoins are being minted.

The company issued USDC across August in repeated $250 million tranches, including a notable $1 billion single-day issuance. Monitoring service Whale Alert flagged roughly $1.25 billion minted in a single week during mid-to-late August alone.

Circle's Cross-Chain Transfer Protocol (CCTP) enables liquidity to move between blockchains without manual bridging, reducing friction for institutions that need to shift large dollar positions quickly.