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Circle has issued another $500 million worth of USDC (USDC) on the Solana blockchain. This latest move adds to a series of major issuances that have helped make Solana one of the fastest-growing networks for dollar-backed stablecoins in 2026.
The latest mint raises Solana’s cumulative USDC issuance in 2026 to about $57 billion, reflecting the total amount of USDC minted on the network this year rather than the amount currently in circulation.
The mint comes just days after Circle issued $500 million in USDC on Solana on June 8, a milestone that helped the network account for more than 10.3% of global USDC supply, its highest share on record. The back-to-back issuances highlight the growing pace of USDC creation on Solana as demand for onchain dollar liquidity continues to increase.
Earlier in the year, it also carried out several $750-million and $500-million mints as stablecoin use across the ecosystem grew. These repeated issuances have lifted Solana’s gross USDC issuance past $67 billion in 2026. The figures underline the network’s rising role as a settlement layer for dollar-based transactions.
Circle has minted another $1B $USDC on @solana, in the past 24 hours.
In total, they have minted $57B $USDC in 2026 on #Solana. pic.twitter.com/iRDcWT5ej9
— Onchain Lens (@OnchainLens) June 12, 2026
Onchain data from tracker Onchain Lens demonstrates that Circle’s total USDC issuance on Solana this year now exceeds $67.5 billion.
Large stablecoin mints often draw notice, but they do not always mean fresh money is entering the crypto market. In most cases, they show Circle building up liquidity ahead of expected needs from exchanges, institutional clients, market makers, and decentralized finance (DeFi) protocols.
Circle has not given a public explanation for the latest mint, which is standard practice. Stablecoin issuers usually create tokens in advance of distribution to customers instead of reacting to single requests.
New USDC issuance is typically driven by one or more of the following:
It is important to remember that minted tokens can later be burned or redeemed. Therefore, gross issuance figures should not be taken as the amount of USDC actually circulating on Solana.
The ongoing mints highlight Solana’s expanding importance beyond simple retail trading. The network has become a leading choice for USDC thanks to its high speed and low transaction fees. These features make it well-suited for payments, tokenized assets, decentralized exchanges, and institutional settlements.
Recent developments support this direction. Earlier this week, Japan’s SBI Holdings teamed up with the Solana Foundation to develop infrastructure for stablecoins, tokenized securities, and cross-border payments. This points to stronger institutional interest in Solana’s financial systems.
At the same time, Circle has broadened its regulated presence. The firm recently gained approval to set up a US national trust bank, a step expected to boost confidence in USDC among institutional users.
Although large USDC mints are often seen as positive signals, analysts advise against treating them as direct proof of new capital entering crypto markets. Newly created USDC may stay in reserves, shift between chains, or be redeemed later. As such, stablecoin issuance is best understood as an indicator of available liquidity rather than confirmed inflows.
Still, the consistent pace of major USDC mints throughout 2026 shows that demand for onchain dollar liquidity remains robust.
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