Solana's Stablecoin Market Cap Skyrockets Amid RWA Expansion

Solana's Stablecoin Market Sees Significant Growth

The stablecoin market cap on Solana's layer-1 blockchain experienced a $900 million increase within a 24-hour period, reaching a total of $15.3 billion according to DeFiLlama. This surge is linked to the launch of Jupiter's JupUSD stablecoin in collaboration with synthetic stablecoin issuer Ethena.

USDC Dominates Solana's Stablecoin Ecosystem

Circle's USDC, a dollar-pegged token, dominates Solana's stablecoin market, constituting over 67% of the total market cap. This growth in stablecoins mirrors increasing investment and interest as Solana evolves into a hub for Internet capital markets, where value and risk are managed via onchain systems.

Stablecoins: Essential for Onchain Asset Transactions

According to Moody's Investors Service, stablecoin settlement volume rose by 87% in 2025. Stablecoins are vital for the liquidity and settlement of tokenized real-world assets (RWAs), which include traditional assets like art and real estate represented onchain. The RWA market is expected to expand to $30 trillion by 2030.

The GENIUS Act, signed into law in July 2025, mandates that regulated payment stablecoins be fully backed by high-quality liquid assets, excluding algorithmic models. The Act also restricts stablecoin issuers from sharing yield directly with customers, sparking debates on the future role of banks.