Stablecoin Transactions on Solana Reach Historic $650B in a Month

In February 2026, the Solana blockchain set a new monthly record by processing approximately $650 billion in stablecoin transactions, a significant increase from January's volume. This surge was partly due to the introduction of new products and changing market conditions. Predictions suggest further growth in March, potentially influenced by Middle Eastern geopolitical tensions. The growth of stablecoin activities on Solana is partly linked to new offerings such as Western Union’s USDPT and Jupiter’s JUPUSD. Despite this, Ethereum still leads with the highest supply of circulating stablecoins and the most cumulative transaction volumes. The overall stablecoin market continues to grow across several chains due to increasing institutional interest, with a majority of finance executives viewing stablecoins as beneficial for treasury operations and competitiveness.