USDC Treasury Mints 500 Million USDC on Solana in Two Minutes

USDC Treasury minted 500 million USDC on Solana in two transactions two minutes apart on Oct. 20, creating about $500 million in dollar-linked tokens on the network.

The first transaction minted 250 million USDC at 3:47 p.m. ET (19:47 UTC). A second minted another 250 million at 3:49 p.m. ET (19:49 UTC). Both transactions were executed by the USDC mint authority address on Solana.

The transactions were separate mints: each created new USDC rather than transferring tokens already in circulation. Together, they created twice as many tokens as either transaction alone. Both occurred on Oct. 20 in the United States, though the corresponding date in Beijing was Oct. 21.

The new issuance took place in a two-minute span and consisted of two transactions of equal size.