While Circle’s USDC led stablecoin growth on Solana, other issuers also expanded their stablecoins to the network recently, one analyst noted.

DeFi protocol Hermetica said the liquidity will make USDh the largest stablecoin on Stacks

Circle also said it will bring the $48 billion USDC stablecoin to the Canton Network and struck a partnership with crypto market maker Cumberland DRW to provide liquidity for USDC and USYC tokens.

The Consumer Financial Protection Bureau proposed a crypto rule just days before Donald Trump takes the White House and can name a new agency head.

Under the new regulations only compliant stablecoins can be used as trading pairs in regulated markets, the report said.

The French financial services firm said earlier this year it will also expand EURCV to the Solana network after struggling to attract users on Ethereum.

Stablecoin exchange balances grew to a yearly high of $41 billion this week, providing dry powder to buy digital assets, one analyst noted.

The Küresel Dollar Network, whose participants will earn yield for helping foster adoption of USDG, also includes Anchorage Digital, Bullish, Galaxy Digital and Nuvei.