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13/08/25 23:34 UTC-04

USDC Adoption on Solana Enters Hyperspeed Thanks to Coinbase–Squads Alliance

Coinbase is making a major leap in USDC adoption on Solana, establishing it as the standard stablecoin across all major Squads products, boosting next-generation finance built on decentralized technologies.

Coinbase just accelerated USDC deployment across Solana’s core layers
Cryptocurrency exchange Coinbase (Nasdaq: COIN) and on-chain infrastructure provider Squads announced on August 13 a strategic agreement aimed at expanding the use of USD Coin (USDC) within the Solana network. Under the agreement, USDC will become the default stablecoin on the Squads platform, signaling a joint effort to enhance stablecoin-based financial services across both decentralized and traditional finance markets.

Coinbase promoted the development on social media platform X:

USDC adoption on Solana is about to speed up. We’ve partnered with Squads to make USDC the standard stablecoin across the entire product suite.

Explaining the motivation, Squads stated:

This partnership builds on an existing base of over $1 billion in USDC supported through our products — nearly 15% of the total USDC supply on Solana. It deepens this commitment by making USDC the standard stablecoin across our full product suite. We see USDC as the best-in-class stablecoin for our products due to its fully audited U.S. dollar reserves, deep liquidity, and strict regulatory oversight.

Adding more context, Coinbase Chief Business Officer Shan Aggarwal said:

Squads is driving on-chain stablecoin adoption within the Solana ecosystem… Our partnership with Squads strengthens USDC’s role as a leading stablecoin in DeFi and will play a key role in showcasing its utility in the broader on-chain economy.

USDC now powers Squads’ main products:

  • Altitude — a U.S. dollar business account

  • Fuse — a consumer finance app linked to a Visa card

  • Grid — an API for embedded stablecoin accounting in fintech platforms

These offerings leverage programmable transfers, recovery functions, and controlled policies to support a variety of use cases. While some continue to express concerns over regulatory uncertainty and potential systemic risks, supporters emphasize USDC’s transparency, liquidity, and compliance standards as competitive advantages for expanding stablecoin integration into the global financial system.

See also: "Bitcoin hits record high above $124K on hopes of rate cuts"

#Solana (SOL) #USDC

Editor: Alyona Nabok
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