Solana Non-USDC/USDT Stablecoin Supply Hits $4.81 Billion All-Time High, Led by USD1 and USDG

Non-USDC/USDT stablecoins on Solana reached a new all-time high of $4.81 billion on July 20, SolanaFloor reported at 06:43 UTC, with World Liberty Financial's USD1 and the cross-chain USDGO token cited as the primary drivers. DeFiLlama data confirms the picture: Solana's total stablecoin market stands at $15.16 billion, with USDCUSDC at $7.09 billion and USDTUSDT at $2.91 billion, leaving a non-USDC/USDT pool that climbed above $5 billion by later in the session.

USD1 Carries $1 Billion in World Liberty Financial Capital to Solana

World Liberty Financial WLFI$0.057+0.8% World Liberty Financial's USD1 holds $1.02 billion on Solana per DeFiLlama, making it the largest non-USDC/USDT stablecoin on the network. USD1 is backed by cash and short-duration US Treasuries held through government money market funds, custodied by BitGo Trust Company. World Liberty Financial deploys USD1 across ten networks; cross-chain transfers use Chainlink's CCIP standard.

Globally, USD1's supply crossed $4.7 billion by February 2026, according to CoinDesk, placing it among the largest fiat-backed stablecoins in circulation at that time. That Solana deployment gives the network's DeFi protocols and payment applications access to USD1-denominated liquidity.

USDGO and USDG: $1.61 Billion From the Paxos Consortium

Global Dollar Network USDG$1.000+0.0% Global Dollar Network carries $1.61 billion on Solana across two tokens, per DeFiLlama. The native USDG USDG holds $612.5 million; USDGO, the cross-chain variant built on LayerZero's OFT standard, adds $1.00 billion and has grown 9% over the past seven days per DeFiLlama. USDG is issued by Paxos, with reserves held in segregated, bankruptcy-remote accounts backed by cash at regulated financial institutions and short-term US government securities.

GDN's distribution network includes Robinhood, Kraken, OKX, Galaxy Digital, Mastercard, and DBS Bank, each of which integrates USDGO as a stablecoin option for their users. That partner roster gives the token a distribution surface that most stablecoins outside the USDC/USDT duopoly cannot replicate. At Accelerate 2025, GDN's team outlined how the network's revenue-sharing model differs structurally from issuers that retain all reserve income.

The holder base for the native USDG token on Solana has grown steadily alongside the supply expansion. Solana Compass data shows 17,062 wallet holders as of July 20, up from 15,565 on June 20, a 9.6% increase in 30 days.

PYUSD, BUIDL, and USDe Round Out a $15 Billion Stablecoin Market on Solana

USD1 and USDGO are the two largest contributors, but Solana's non-USDC/USDT stablecoin supply now spans a dozen active issuers. DeFiLlama data shows PYUSDPYUSD (PayPal, $679.7M), BUIDL (BlackRock, $547.4M), USDeUSDe (Ethena, $536.7M), and USX from Solana-native protocol Solstice ($523.0M) each carrying material balances on the network.

USDC accounts for 46.8% of Solana's total stablecoin supply per DeFiLlama. Non-USDC/USDT stablecoin supply on Solana has grown roughly 15 times over since January 2025, according to CryptoBriefing.

Anchorage Digital's Sergio Mello made the case for Solana's stablecoin infrastructure at Breakpoint 2025, projecting multi-trillion stablecoin markets ahead. The July 20 data puts a reference point on that: $15.16 billion in stablecoins on Solana across more than 20 issuers, with the non-dominant segment at a new all-time high.