USDC Treasury Mints 500 Million USDC in Two Solana Transactions

USDC Treasury minted 250 million USD Coin (USDC) on Solana on Oct. 16, about 19 hours after minting the same amount on the network. Together, the Oct. 16 mints totaled 500 million USDC. The latest batch was valued at about $250.12 million, while the earlier mint was worth about $250.07 million. Each transaction involved the same number of tokens. USD Coin is a dollar-linked cryptocurrency designed to maintain a value of $1. The new issuance adds to the amount of USDC created on Solana, but the transactions alone do not establish whether the tokens entered circulation or how they will be used. USDC Treasury made a separate 250 million-token mint on Solana on Oct. 12 at 5:49 p.m.

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