Squads has entered a strategic partnership with Coinbase to accelerate the adoption of USD Coin (USDC) across the Solana network, positioning the dollar-backed stablecoin as the default currency within its product suite.
The collaboration builds on Squads’ existing integration of more than $1 billion in USDC — representing nearly 15% of the total USDC supply on Solana — and aims to expand stablecoin-powered finance for businesses and individual users. According to Coinbase Chief Business Officer Shan Aggarwal, the initiative reinforces USDC’s status as the leading stablecoin in decentralized finance and strengthens its role in the broader on-chain economy.
We’re excited to announce a strategic partnership with @Coinbase.
Together, we’ll accelerate USDC adoption and advance our shared mission of stablecoin-powered finance.
Over $1 billion in USDC lives on Squads today — and the stablecoin era is just getting started. pic.twitter.com/4uIusFVw2l
— Squads (@SquadsProtocol) August 13, 2025
Since launching in 2021, Squads has developed programmable self-custody infrastructure to secure on-chain programs, validator keys, and digital assets. Its flagship product, Squads Multisig, has become a treasury management standard on Solana, safeguarding over $10 billion in assets and processing more than $5 billion in stablecoin transfers for over 400 teams.
Stablecoin adoption has been a core growth driver for Squads, accelerated by rising institutional demand, business use cases, and regulatory clarity under the GENIUS Act. The company’s smart account features — including programmable payments, policy-based controls, and account recovery — are designed to support advanced stablecoin applications.
USDC now powers key Squads products: Altitude, a USD business account for savings and payments; Fuse, a personal finance app with a Visa card for spending USDC globally; and Grid, an API enabling fintech platforms to embed stablecoin accounts.
By partnering with Coinbase, Squads aims to expand USDC’s role as a settlement and payments standard across Solana, enabling deeper liquidity, faster capital movement, and broader integration into DeFi and fintech platforms. The companies see the collaboration as a step toward making stablecoins a central pillar of the next generation of financial infrastructure.
Recently, Coinbase announced it is revamping its Stablecoin Bootstrap Fund to boost USD Coin (USDC) liquidity across leading and emerging DeFi protocols. Initial capital will be deployed into Ethereum-based lending platforms Aave and Morpho, along with Solana-based trading venues, as part of the exchange’s broader push to support stablecoin adoption and decentralized market growth.
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