The market cap of stablecoins on the Solana Layer 1 blockchain increased by $900 million in 24 hours on Tuesday.
According to DeFiLlama, stablecoins, blockchain tokens backed by fiat currencies or debt securities, rose to a market cap of $15.3 billion on the Solana network.
The dramatic surge got here as decentralized finance platform Jupiter launched its JupUSD stablecoin, developed in collaboration with synthetic stablecoin issuer Ethena.
The market capitalization of Solana stablecoins is increasing. Source: DeFiLlama
Solana's stablecoin ecosystem is dominated by Circle's USDC (USDC), a dollar-pegged token that accounts for over 67% of the network's total stablecoin market cap.
The rise of stablecoins on Solana reflects increased investment activity and investor interest because the Solana ecosystem evolves right into a hub of web capital markets where value and risk are transferred entirely via on-chain rails.
Stablecoins grow to be a crucial key element as assets move on-chain
According to financial rating agency Moody's Investors Service, stablecoin settlement volume increased by 87% in 2025.
According to Moody's, stablecoins are a crucial infrastructure for tokenized real-world assets (RWAs), that are physical or traditional assets represented on-chain. Tokenized RWAs require stablecoins for on-chain liquidity and settlement.
Tokenizing assets opens up recent use cases, akin to the power to make use of traditionally illiquid asset classes akin to art, real estate and collectibles as collateral for loans in DeFI applications.
According to several traditional financial institutions, the RWA market is anticipated to grow to $30 trillion by 2030.
Stablecoins are among the many frontrunners of this growth. The total market capitalization of overcollateralized stablecoins, tokens backed 1:1 by fiat money deposits and sovereign debt, is almost $300 billion, in line with RWA.xyz.
According to the GENIUS Act, signed into law by US President Donald Trump in July 2025, regulated payment stablecoins should be backed one-to-one with high-quality liquid assets, effectively eliminating algorithmic or under-collateralized models.
Algorithmic stablecoins that use software or complex market operations to take care of their fiat currency pegs should not recognized by the GENIUS Act.
The GENIUS Act also prohibits stablecoin issuers from sharing proceeds directly with customers, a provision that has sparked debate in regards to the future role of banks.
