Solana Stablecoin Card Spending Tops September Record Before Month-End

Tracked stablecoin card spending settled on Solana reached $114.6 million through Oct. 26, surpassing September’s $113.9 million high and setting a record for the programs in the measure.

The spend-only measure covers on-chain activity from nine of 13 programs tracked on Solana. It excludes other programs and off-chain issuer data, so it does not capture every stablecoin card purchase made by Solana users.

A separate October sample covering 11 programs recorded $379.2 million in spending, including $122.17 million on Solana. Ether.fi and KAST together accounted for $262.9 million, or 69.3%, of the sample. KAST’s $100.4 million in Solana activity came through 31 issuer settlement batches, which do not correspond one-for-one with individual purchases. The samples differ in coverage and dates, so their Solana totals are not directly comparable.

Solana’s stablecoin supply reached $17.3 billion on Sept. 25, a record at the time. Tracked stablecoin-card spending topped $1.1 billion in September across selected programs, a broader measure than the Solana series.