Last year, Circle announced a partnership to bring USDC to the Solana blockchain. Today, that promise is fully realized, with comprehensive support for USDC on Solana available across all Circle products.
Solana is a leading next-generation public blockchain with breakthrough scalability, speed, and cost efficiency. Solana supports up to 50,000 transactions per second (tps), with block production and settlement finality in 400 milliseconds, and extremely low transaction fees averaging $0.00001 per transaction. USDC on Solana is already supported across leading crypto exchanges, DeFi ecosystems such as Serum and Oxygen Protocol, and several native wallets including Solong, Bonfida, and Binance’s highly popular Trust Wallet.
In a short period of time, Solana has gained traction with DeFi developers, supporting the launch of the breakthrough Serum Ecosystem, Audius, and soon supporting 100M+ active user consumer products such as Maps. The Solana network has several powerful tools, including Wormhole, a secure, decentralized bridge connecting Ethereum to Solana. Circle is excited to support Solana and its developer ecosystem across our full suite of payments and treasury infrastructure built around USDC.
With the Circle Account, customers around the world can connect bank accounts and mint, redeem, store, send and receive USDC on Solana.
Companies, projects and developers building with Solana can also leverage Circle’s powerful suite of API Services to build treasury, commerce and payments applications leveraging the Solana blockchain and USDC. Circle API Services enable companies to collect payments from cards, wires and ACH bank transfers that settle in USDC, manage account infrastructure and securely custody USDC for customers, and automate on-chain transactions. These powerful services are now available to all Solana developers. Developers can get started instantly in Circle’s fully functional developer sandbox.
How can I access USDC on Solana?
- Support for USDC on Solana is available across all Circle products including the Circle Account and APIs. Customers can convert into USDC on Solana with a transfer from a bank account, send USDC on Solana, receive USDC from Solana addresses, as well as convert USDC on Solana back to a bank account.
- Support is available across Payments, Payouts, Digital Dollar Accounts and Marketplaces API products, with equivalent features to other supported blockchains (Ethereum and Algorand).
Does it cost money to convert between tokens?
- No. There is no cost to convert across blockchains. Circle uses a free “swapping mechanism” that acts as a bridge across supported USDC chains, allowing Circle customers to exchange USDC on one supported blockchain for USDC on another supported blockchain by sending to and from Circle addresses.*
Why is this an important milestone?
- Support for Solana across the Circle APIs is a critical step forward in our effort to bring USDC across multiple blockchains. Expansion on Solana brings developers innovations in speed, scale and cost efficiency that address the rapidly expanding financial and consumer use cases for stablecoins.
*After Customer generates one deposit address for converting across blockchains, Circle will charge a fee of $100 for each additional deposit address.