X @Solana

Stablecoin Growth & Adoption - Total USDC borrowed on Kamino Finance surged by $100 million in just over a week [1] - Tether USD supply on Solana surpassed $2 billion for the first time [2] - Hylo's HyUSD circulating supply crossed $5 million [2] - SkyEcosystem allocated over $4 million USDS for utilisation; circulating supply surpassed 50 million USDS [2] New Stablecoin Initiatives & Partnerships - R2Yield and Saros are partnering to launch R2USD on Solana, backed by T-Bills and private credit [1] - OnRe Finance launched on Solana in collaboration with Kamino Finance and Global Dollar, allowing users to borrow USDG [3] - Unitas Labs is working with Orca to enable seamless swaps between USDu and USDC [4] Funding & Recognition - Hylo raised $1.5 million in seed funding and surpassed $10 million TVL [2] - S&P Global Ratings issued its first-ever credit rating action for a stablecoin system: SkyEcosystem Protocol (USDS) [3] Ecosystem Development - Circle minted $1.25 billion USDC on Solana this week, including $750 million on August 8, 2025 [1] - Reflect Money is a new tool that enables anyone to create stablecoins and capture yield spreads [3] - Drift Protocol joined Ondo Finance's Global Market Alliance alongside Solana Foundation, Jupiter Exchange, Trust Wallet, and more [2]