Squads Partners With Coinbase to Boost USDC Adoption on Solana
on August 13, Solana-based Squads announced a meaningful partnership with Coinbase. This move sets the stage for enhancing USDC’s role within the Solana network.
the alignment comes as part of Coinbase’s renewed push thru its Stablecoin Bootstrap Fund, focusing on increasing stablecoin liquidity in decentralized finance (DeFi).
Key platforms targeted include Aave, Jupiter, Morpho, and Kamino, where USDC adoption is crucial. By integrating USDC into its existing infrastructure, Squads aims to unlock new benefits for its users.
This collaboration leverages Squads’ existing traction, which already secures over $1 billion in USDC across its suite. This represents roughly 15% of the total USDC supply on Solana.
- Squads has driven on-chain stablecoin adoption substantially.
- The partnership with Coinbase highlights USDC’s prominence in DeFi.
- Together, they aim to showcase USDC’s utility throughout the blockchain economy.
Squads expanded its offerings since launching its programmable self-custody platform in 2021. It now supports over $10 billion in value, with over $5 billion in stablecoin transactions alone. Core services like altitude, Fuse, and Grid heavily rely on USDC.
