A Solana transaction record shows the USDC Treasury created 250 million USD Coin (USDC) on Oct. 23, with the issuance valued at about $250 million. Its entry is labeled MintTo and carries a timestamp of 5:21 p.m. ET (21:21 UTC).
Solana's blockchain supports digital assets and applications. The transaction confirms token creation on Solana, while the reported information does not establish whether the tokens were later distributed.
Under Circle's Cross-Chain Transfer Protocol, USDC is burned on the source blockchain and an equivalent amount is minted on the destination chain, the company says. A Solana mint alone therefore does not show a net increase in USDC supply across blockchains. EconoTimes has previously examined the limits of USDC mint records across chains.
Other Solana entries show 250 million USDC mints on Oct. 6 and Oct. 2, plus two mints of that size on Sept. 25.
