Coinbase partners with Squads to accelerate USDC adoption on Solana

Crypto.news

2025/08/14 02:02

SOL$200.7+4.54%

USDC$0.9995-0.05%

LAYER$0.6482+1.58%

Coinbase is teaming up with Squads to bolster the adoption of the USDC stablecoin on the Solana blockchain.

Summary

Coinbase and Squads have joined forces to boost USDC adoption on Solana.
The initiative builds on Squads’ securing of over $1 million in USDC across its product suite.
Coinbase announced the relaunch of its Stablecoin Bootstrap Fund aimed at bolstering DeFi liquidity with stablecoins.

Squads, a decentralized finance layer on Solana (SOL), announced the strategic partnership with Coinbase on Aug. 13, noting the collaboration aims at expanding the adoption of USDC (USDC) on the Solana blockchain.

The partnership with Squads comes amid multiple stablecoin adoption milestones targeted at USDC on Solana. U.S.-based Coinbase is among the major players to make top moves in recent days.

Notably, the crypto exchange has relaunched its Stablecoin Bootstrap Fund, an initiative aimed at advancing the use of stablecoins across decentralized finance. Key to the program is the adoption of USDC on DeFi protocols like Aave, Jupiter, Morpho and Kamino.

Squads and Coinbase want to boost this adoption further with integration within its infrastructure, products and application programming interfaces. The two platforms will tap into the existing traction that has over $1 billion in USDC, or about 15% of supply on Solana, secured across Squads’ products.

USDC-powered products

Growth for Squads includes the launch of its programmable self-custody infrastructure in 2021, unveiling of Squads Multisig and securing more than $10 billion in value.

The protocol has also moved over $5 billion in stablecoins. Stablecoins such as USDC have been Squads’ main growth vector over the past 18 months, buoyed by overall institutional interest and regulatory developments.

The protocol’s suite of products currently powered by USDC include the U.S. dollar savings business account Altitude; personal finance app Fuse; and stablecoin-powered API Grid.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.