Circle minted about 13.5 billion USDC on Solana in September, Crypto Briefing says
In brief
- Circle minted about 13.5 billion USDC on Solana in September, per Crypto Briefing's count.
- Crypto Briefing called it the largest monthly stablecoin mint Solana has recorded.
- Gross USDC minting on Solana in August was roughly $11 billion, the previous record.
- Figures reflect gross mints, not growth in circulating supply.
How the September mints played out
Circle didn't issue the tokens all at once. It minted in repeated batches through the month, often in tranches of $250 million, and on some occasions the pace reached $500 million within short intervals, according to Crypto Briefing.
The biggest stretch came in a single day. Crypto Briefing said its research showed Circle minted $3 billion of USDC within one 24-hour window in September.
Whale Alert's role was narrower. The on-chain tracking service flagged many of the individual mint transactions, but the monthly totals are Crypto Briefing's own tally.
Gross mints vs. circulating supply
Crypto Briefing put gross USDC minting on Solana in August at roughly $11 billion, which was the chain's highest monthly figure at the time. September beat a record that had stood for one month.
That's a big step up.
It's worth being clear about what these numbers measure, though. Gross minting tracks how much USDC Circle created, not how much new USDC is circulating in wallets and apps. Many large mints first land in treasury or issuer-controlled wallets before they're distributed, so net growth in circulating supply tends to be milder than the gross figures, the publication noted.
Crypto Briefing also reported that USDC supply on Solana had passed $8 billion by late August (more than 10% of all USDC globally). It said Solana's total stablecoin supply hit an all-time high of around $17.3 billion by September 25, driven mainly by USDC and Tether.
Circle's broader September
The minting wasn't the only Circle story last month. According to Crypto Briefing's report, Circle struck a deal with Binance in September that included a $100 million equity stake and a multi-year agreement to promote USDC.
The same report stated that every USDC is backed 1:1 by US dollar reserves. Neither the backing claim nor the Binance terms were independently verified for this article, and both are attributed here to Crypto Briefing's reporting.
Frequently asked questions
Does 13.5 billion USDC minted on Solana mean 13.5 billion new USDC is circulating?
No. Crypto Briefing said gross minting measures how much USDC Circle created, not how much new USDC is circulating in wallets and apps. Many large mints first land in treasury or issuer-controlled wallets before distribution, so net growth in circulating supply tends to be milder than the gross figures.
How did September's USDC minting on Solana compare with August?
Crypto Briefing put gross USDC minting on Solana in August at roughly $11 billion, which was then the chain's highest monthly figure. September's total of about 13.5 billion USDC topped that, and the publication called it the largest monthly stablecoin mint the network has recorded.
