USDC Gains Bigger Role On Solana Through Coinbase And Squads

Stablecoins keep gaining ground in both decentralized and traditional finance, and now two major players are teaming up to speed up that shift. Coinbase and Squads have announced a new partnership that puts USD Coin (USDC) at the center of Squads’ entire product range on the Solana blockchain. The move aims to make USDC the default choice for payments, savings, and app integrations across Squads’ ecosystem.

Good to know

• Squads already holds over $1 billion in USDC across its products — about 15% of the total USDC supply on Solana.
• USDC is backed by fully audited U.S. dollar reserves and is known for its liquidity and compliance.
• Coinbase and Squads believe this integration can expand stablecoin use well beyond the crypto space.

Coinbase, which trades on Nasdaq under COIN, shared the news on X, highlighting how the collaboration is expected to speed up USDC adoption on Solana. For Squads, it’s a natural next step after building a strong base of USDC users.

“This partnership builds on an existing foundation with over $1 billion in USDC secured across our products — nearly 15% of total USDC supply on Solana,” Squads said in a statement. “We believe USDC is the premier stablecoin for our products because of its fully audited U.S. dollar reserves, deep liquidity, and rigorous regulatory oversight.”

Shan Aggarwal, Coinbase’s chief business officer, added: “Squads is driving onchain stablecoin adoption across the Solana ecosystem… Our partnership with Squads reinforces the role of USDC as the leading stablecoin in DeFi, and will play a pivotal part in showcasing its utility in the broader onchain economy.”

What Changes For Squads Users

With USDC now the standard stablecoin across Squads’ offerings, all three of its core products will benefit:

• Altitude – A USD business account designed for companies that want to manage onchain funds.
• Fuse – A consumer finance app with a Visa-linked card for spending USDC directly.
• Grid – An API that lets fintech apps embed USDC accounts into their own platforms.

Each of these services already uses Solana’s speed and low fees, but USDC integration strengthens them further by enabling programmable transfers, account recovery tools, and policy-based transaction controls.

Why It Matters For Solana And Beyond

Stablecoins have been a hot topic lately, with some regulators still weighing rules that could affect how they’re issued and used. Even so, USDC has built a reputation for transparency, strong liquidity, and adherence to compliance standards. That track record is why many see it as the safest choice for businesses and developers looking to integrate stablecoins into payment flows or savings products.

The Coinbase–Squads agreement shows how stablecoins can move past niche DeFi use cases into more mainstream financial applications. By making USDC the go-to currency for everything from business accounts to consumer payments, the partnership strengthens Solana’s role as a fast, cost-efficient network for real-world finance.