Squads, Coinbase Partner to Boost USDC Adoption on Solana

Published: 2025-08-13 14:27:06 |

Squads, a Solana-based multisignature protocol, has announced a strategic partnership with Coinbase to accelerate USDC adoption across its platform. Squads currently holds over $1 billion in USDC, representing nearly 15% of Solana’s total supply. The deal designates USDC as the default stablecoin for Squads’ products, reinforcing the protocol’s stablecoin-driven finance mission. This collaboration follows Squads’ $10 million Series A funding round led by Electric Capital. Traders should note that increased USDC adoption on Solana may boost liquidity and payment utility in DeFi, potentially driving SOL demand as the ecosystem expands.

Bullish

This partnership with Coinbase strengthens USDC adoption within the Solana ecosystem and signals increased stablecoin utility. Squads already holds over $1 billion in USDC, and designating USDC as its default stablecoin can enhance liquidity across DeFi protocols. Historically, exchange-backed integrations—such as USDC’s rollout on Ethereum—led to significant volume growth. In the short term, traders may allocate more capital to SOL and USDC markets anticipating higher transaction flows. In the long run, institutional interest in a Coinbase-supported stablecoin on Solana could drive sustained network activity and asset appreciation, underpinning a bullish outlook.