Coinbase and Squads Protocol Drive USDC Adoption on Solana Blockchain
Coinbase has teamed up with Squads Protocol to enhance the adoption of USDC on the solana blockchain, marking a strategic effort to promote stablecoin-powered finance on Solana's high-performance network. This partnership leverages Solana's low-cost, high-speed infrastructure to establish USDC as a foundational asset for decentralized applications (dApps). The collaboration reflects increasing institutional interest in stablecoin utility beyond mere trading, highlighting Solana's scalability as a key advantage. As of August 2025, this development signals a significant step toward mainstreaming stablecoin use cases in decentralized finance (DeFi) and other blockchain-based financial solutions.
Coinbase and Squads Boost USDC Adoption on Solana Blockchain
Coinbase has partnered with Squads Protocol to accelerate USDC adoption on Solana, signaling a strategic push for stablecoin-powered finance on the high-performance blockchain. The collaboration leverages Solana's low-cost, high-speed infrastructure to position USDC as a cornerstone for decentralized applications.
This move aligns with growing institutional interest in stablecoin utility beyond trading. Solana's scalability advantages could make it a preferred settlement LAYER for USDC transactions, challenging Ethereum's dominance in decentralized finance.
Citigroup Explores Custody Services for Stablecoin and Crypto ETF Collateral
Citigroup is evaluating a move into the custody of collateral backing stablecoins and cryptocurrency ETFs, signaling deeper institutional engagement with digital assets. The banking giant sees stablecoins as particularly promising, with the market projected to hit $3.7 trillion by 2030. Regulatory requirements for audited reserves have opened a niche for trusted custodians—a role Citigroup is well-positioned to fill.
The firm's services division has identified custody of high-quality assets as a priority, acknowledging the infrastructure advantages banks hold over current market players. While crypto ETFs present another opportunity, Coinbase's dominant position in that space may steer focus toward stablecoin initiatives. Citigroup's deliberations follow its earlier consideration of launching a proprietary stablecoin, now pivoting to collateral management amid evolving regulations.
Thumzup Media Partners with Coinbase to Expand Crypto Holdings with $50M Investment
Thumzup Media, a Nasdaq-listed company, has secured $50 million through a secondary offering to bolster its cryptocurrency treasury and mining operations. The firm plans to acquire mining rigs and diversify its holdings with assets including XRP, BTC, ETH, SOL, LTC, USDC, and Doge. This strategic MOVE aligns with Thumzup's ambitious target to grow its digital asset pool to $250 million, allocating up to 90% of its liquid assets to cryptocurrencies.
CEO Robert Steele emphasized the raise as a step toward a "strategically managed" digital asset treasury, with Coinbase Prime serving as custodian and prime broker. The company also disclosed a Bitcoin-backed credit facility arranged with Coinbase Prime, set for May 2025, to provide flexible capital for its treasury expansion. The $50 million will be split between mining equipment purchases and direct crypto accumulation, a high-stakes bet that could either yield steady revenue or strain cash reserves if market conditions sour.
