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FollowingCircle issued an additional 750 million USDC on Solana, bringing an annual issuance of US$68.26 billion.
According to Onchain Lens monitoring, Circle, the issuer of stablecoin USDC, minted USDC worth approximately US$750 million on the Solana blockchain on July 13, bringing the total issuance of USDC on the Solana network to approximately US$68.26 billion in 2026. This large-scale event highlights Solana's growing importance as the main platform for dollar-anchored crypto liquidity.
USDC issuance and Solana status
USDC plays a key role in the digital asset ecosystem: facilitating transaction settlement, serving as collateral in the lending and derivatives sectors, and supporting transactions in tokenized real-world assets. Changes in additional issuance often indicate changes in market capital allocation and investor sentiment.
Onchain Lens reported that the latest batch of tokens has been sent to Solana address 7VHUFJHWu2CuExkJcJrzhQPJ2oygupTWkL2A2For 4BmE. Since 2026, USDC's distribution trend on Solana has continued to grow. For example, in April this year, Circle forged 3.25 billion USDC units on the network in one week, implemented in 13 batches of 250 million units each.
Circle is a global financial technology company known for issuing stablecoins and providing blockchain-based payment solutions. Solana is a high-performance blockchain known for its high speed and low transaction costs, making it the platform of choice for projects and traders pursuing fast settlement.
Total issuance, supply and liquidity flows
Although $68.26 billion represents the total amount of USDC minted on Solana this year, most of it does not remain on the network. According to DefiLlama, the current USDC supply on Solana is approximately US$7.3 billion. Industry data shows that the total supply of USDC on all blockchains is close to US$73.5 billion.
Specific indicators: The total issuance of USDC on Solana in 2026 will be US$68.26 billion (full blockchain data is not applicable); the current USDC supply on Solana is US$7.3 billion, and the full blockchain is US$73.5 billion. This means that only 10.7% of USDCs issued on Solana remain in the chain, and the rest may be redeemed, destroyed or transferred to other blockchain networks as market participants adjust strategies. These numbers do not indicate asset losses, but rather indicate that liquidity is being actively recycled, confirming Solana's role as an efficient settlement layer for large-scale U.S. dollar flows.
Circle has always emphasized that both redemption volume and liquidity supply should be considered when measuring USDC issuance. The company's transparency report clearly distinguishes between new foundries, redemptions and total supply, indicating that circulation alone cannot fully reflect market dynamics.
USDC is a digital U.S. dollar backed 100% by highly liquid cash and cash equivalents and is always convertible to U.S. dollars on a 1:1 ratio. As the ecosystem continues to evolve, these transparency measures aim to provide a clearer perspective for market participants and institutional users.
Key drivers of USDC activity on Solana
Solana remains the leading center for digital asset trading activity, which explains why Circle issues USDC on a large scale on the network. Earlier this year, USDC accounted for 52% of all stablecoin reserves on Solana, reaching $14.7 billion. The major decentralized exchanges on Solana (including Raydium, Jupiter and Orca) support high trading volumes that rely on strong stablecoin reserves to provide liquidity.
Circle's expansion into institutional finance has further boosted the USDC offering on Solana. In June, BNY became the first institutional partner to provide USDC direct hosting and casting services. The company has also partnered with global banks such as Standard Chartered Bank to strengthen its broad mission of integrating traditional finance with blockchain infrastructure.
USDC reserves are mainly composed of cash and short-term U.S. Treasury instruments, which remain fully collateralized and can be converted 1:1 into U.S. dollars. This model has helped USDC maintain its status as the world's second-largest stablecoin by market value, behind Tether's USDT.
Looking ahead, observers may focus on the speed and frequency with which the newly cast USDC remains in Solana or moves to other chains. Solana's importance is increasingly reflected in the size of the dollars flowing through its network, rather than in any fixed snapshot of circulating supply.
