Blockchain data show that Circle, the issuer of the USD Coin stablecoin, created roughly 250 million USDC (about $249.9 million) in a single transaction on the Solana network on 24 June.
Blockchain data show that Circle, the issuer of the USD Coin stablecoin, created roughly 250 million USDC (about $249.9 million) in a single transaction on the Solana network on 24 June.
The mint, recorded at the USDC Treasury address before being bridged to Solana, expands the supply of the dollar-pegged token available on that blockchain. Circle had not immediately commented on the reason for the issuance or whether the tokens were destined for a particular exchange or institutional customer.
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Source: https://thedefiant.io/news/blockchains/circle-issues-250-million-new-usdc-on-solana-2f68454d