Coinbase, Squads Protocol Push USDC Growth on Solana

TheCryptoTimesPublished on 2025-08-04Last updated on 2025-08-13

USDC usage on Solana is about to surge as Coinbase and Squads Protocol announce a strategic partnership. The partnership, announced today, makes USDC the default stablecoin across Squads’ entire product suite.

According to the announcement, the initiative targets stablecoin transactions in the Solana ecosystem that are faster, cheaper, and even more secure. It also aims to intensify finance enabled through stablecoins and improve liquidity within the Solana ecosystem.

USDC adoption on @solana is about to accelerate.

We've partnered with @SquadsProtocol to make USDC the default stablecoin across their entire product suite. pic.twitter.com/aE7gnauTEi
— Coinbase 🛡️ (@coinbase) August 13, 2025

The partnership stands on top of the $1 billion in USDC the Squads have already locked, which accounts for nearly 15 percent of the total USDC supply on Solana.

Strengthening Stablecoin Utility

Since 2021, Squads has developed programmable self-custody infrastructure to secure on-chain programs, tokens, and validator keys. Its flagship, Squads Multisig, now secures over $10 billion in assets and has moved $5 billion in stablecoins.

More than 400 teams use it for treasury management. Coinbase Chief Business Officer Shan Aggarwal said, “Our partnership with Squads reinforces the role of USDC as the leading stablecoin in DeFi.”

Besides, Squads integrates USDC into Altitude, a USD business account for savings and transfers, and Fuse, a personal finance app with a Visa card. In addition, Grid provides APIs to embed stablecoin accounts in fintech platforms. The purpose of these integrations is to make USDC transactions easy.

Rising Adoption Backed by Regulation

Over the past 18 months, stablecoins have grown quickly, helped by a friendly environment and new rules from the GENIUS Act. With USDC, digital banking is getting smarter, offering features like accounts that can make automatic payments and follow custom spending rules.

Besides this, Thumzup Media Corporation expanded its relationship with Coinbase. Through Coinbase Prime, it will access institutional-grade trading, financing, and NYDFS-qualified custody for its crypto accumulation strategy. Meanwhile, Coinbase Global (COIN) traded at $325.03, up $2.41 or 0.75%, according to Yahoo Finance data.

Also Read: Bitmine Stocks Jump 60% in 5 days Following ETH Rally

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