Circle Issues $550 Million in USDC on Solana in 12 Hours

According to Onchain Lens, the stablecoin issuer has minted a cumulative $10.19 billion of USDC on the Solana blockchain network.

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Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the dollar.
  • Solana: A blockchain network designed for high-speed transactions and low fees, commonly used for payments and token issuance.
  • Stablecoin: A type of cryptocurrency intended to hold a stable value, often by being pegged to a fiat currency such as the U.S. dollar.