Solana’s stablecoin market explodes by 154%! What details are fueling this surge?

Institutional payment adoption gains traction

In South Korea, leading payment provider KG Inicis reached an agreement to explore stablecoin payments across its merchant network, which processes close to 25 trillion won per year. MoneyGram has also begun staking SOL to participate in network validation while expanding payment services to over 60 million customers worldwide. These moves underline the growing interest among major institutions in integrating Solana’s blockchain for real-world payment scenarios.

As Mastercard rolled out 24/7 stablecoin settlement on Solana, institutions like KG Inicis and MoneyGram have also begun evaluating the network for their payment services.

Digital bank Toss Bank has started pilot testing stablecoin transfers for its 15 million users. SoFiUSD grew its supply on Solana by $200 million within just five weeks. The Solana ecosystem continues to expand with new offerings like the Canadian dollar-backed CADC stablecoin and Open USD, which is supported by a consortium of major financial institutions.

The addition of subscription and allowance features to Solana means that recurring payments, payroll, and invoicing can now be executed directly on the blockchain, eliminating the need for third-party apps. The platform also highlights solutions such as international corporate banking, digital prepaid cards, and crypto-based lending products that use wallet behavior instead of traditional credit scores.

Network data points to rapid growth

Since January 2025, the amount of stablecoins on the Solana network has surged by 154%, reaching $14.75 billion. Payment volume has jumped 87% compared to the same period last year. Card-based payment transactions alone have totaled $420 million. Solana’s share in the cryptocurrency payments sector climbed from 5.43% to an impressive 10.1%.

According to Birdeye’s data from the first half of 2026, over half of Solana’s stablecoin total is made up of USDC, now spread across 7.54 million wallets. For seven consecutive weeks, Solana has ranked first among blockchains in USDC transfer volume. Birdeye is recognized as a leading crypto analysis platform for on-chain data and market tracking.

Mini glossary: Stablecoin settlement refers to the finalization of payments using digital assets that are typically pegged to fiat currencies like the dollar. USDC is a widely used, dollar-pegged stablecoin issued by Circle.

In the current week alone, the network processed 22.7 million transactions, equivalent to about one third of all USDC transaction volume. During the same period, payroll payments on Solana reached $1.6 billion, with peer-to-peer transfers among retail users totaling $803 million.

Key technical levels in focus for SOL

Analyst Celal Kucuker notes that SOL’s price continues to demonstrate resilience and retains its upward potential. He highlights the $77 level as a critical support zone, marking the intersection of previous price action and important Fibonacci retracement points.

Celal Kucuker assesses that if SOL breaks above the descending monthly trend established at the start of 2025, resistance areas at $145 and $188 may come into play.

Should SOL maintain its position above the downward trendline, the $145 and $188 levels are likely to emerge as the next resistance points. However, if the support is lost, the current bullish scenario may weaken, possibly delaying broader upward momentum in the market.