Circle mints 1B USDC on Solana as weekly issuance hits 3.5B

Circle reportedly minted another 1 billion USDC on Solana on June 16, according to on-chain tracker Lookonchain. 

The latest issuance lifted Circle’s total USDC minting on Solana to 3.5 billion over the past week. “Circle minted another 1B USDC on Solana today,” Lookonchain said. 

The tracker added that Circle had minted 3.5 billion USDC on Solana over the past seven days. Circle had not issued a separate public statement on the specific mint at the time of writing.

Fresh USDC issuance increases the amount of dollar-linked liquidity available on Solana. It does not always mean immediate buying in crypto markets. Stablecoin mints can reflect exchange demand, treasury rebalancing, payment activity, or preparation for future settlement flows.

Solana remains a key stablecoin rail

Solana has become one of the main networks for stablecoin transfers due to its low fees and fast settlement. USDC is widely used across trading, DeFi, payments, and cross-border transfer products, which makes large mints closely watched by market participants.

Circle says USDC is a fully reserved stablecoin that is redeemable 1:1 for U.S. dollars. The company also says USDC is supported across dozens of networks, including Solana. This gives users and institutions several routes to move dollar liquidity across onchain markets.

The latest mint also follows months of rising attention on Solana-based USDC activity. Earlier market reports showed large USDC issuance on Solana during periods of higher trading and payment demand. The new weekly total adds to that trend.

Record HyperEVM transfer adds context

The Solana mint comes days after Circle moved a large amount of USDC through another onchain venue. As previously reported, Circle moved about 4.397 billion USDC to a Coinbase-linked address through HyperEVM.

“Circle just moved $4 billion to Coinbase on HyperEVM,” Arkham said. The analytics firm described the transfer as the largest USDC transaction ever. The move was linked to Coinbase’s role as Hyperliquid’s official USDC treasury deployer.

That transfer matters because Hyperliquid uses USDC as a core quote and settlement asset. Large treasury movements can support trading liquidity, collateral needs, and settlement flows across active onchain markets.

The Solana issuance and HyperEVM transfer show how USDC supply is moving across several networks at the same time. The activity points to growing demand for stablecoin liquidity across trading venues, payment rails, and blockchain applications.

Movement post points to payment demand

Circle also pointed to Movement as part of its wider stablecoin network push. The company said Movement’s Move-powered blockchain ecosystem is designed for low-cost payments, remittances, and financial access.

The statement connects stablecoin issuance to payment use cases beyond trading. USDCx is designed as a USDC-backed asset within Movement’s ecosystem. Its role is to support dollar-linked settlement across applications that need lower costs and faster transfers.