SoFi's regulated stablecoin, $SOFIUSD, has surged past $200 million in circulating supply on the Solana blockchain, according to data from SolanaFloor. Just weeks after its launch on Solana, the token’s rapid accumulation propelled the total supply across both Solana and Ethereum to $300 million.
Previously, the stablecoin maintained a steady supply of around $100 million on Ethereum, but the new Solana deployment has dramatically shifted the distribution. The move highlights growing institutional appetite for blockchain-based dollar alternatives and underlines Solana's increasing role in DeFi and payments infrastructure.
SoFi, a U.S. chartered bank, positions $SOFIUSD as a bridge between traditional banking and decentralized finance. The milestone arrives amid mixed broader market sentiment, yet strong community engagement and social media buzz suggest renewed confidence in stablecoins. While 24-hour trading volumes currently appear muted, the expansion could signal future adoption waves as users seek regulated on-chain settlement layers.
