Stablecoin-funded card spending settled on Solana reached a record $141 million in October, extending the network’s expansion into consumer payment infrastructure. According to Solana’s official update, citing Paymentscan data, October spending was roughly seven times higher than a year earlier and established a fourth consecutive monthly record for the metric. The total increased about 24% from September’s previous high of $113.9 million.
The year-over-year comparison is even larger when expressed as a percentage. Against approximately $19.7 million in October 2025, the latest total represents growth of roughly 616%, or about 7.2 times. The metric measures stablecoin-linked card activity observed settling onchain, not the number of individual shoppers or purchases, because some card programs aggregate multiple consumer payments into settlement batches.
JUST IN: $141M spent on stablecoin cards on Solana in October, up 7x year on year. New ATH. pic.twitter.com/jZrVN0VaYI
— Solana (@solana) November 3, 2026
Card Volume Grows Alongside Solana Stablecoins
October’s record comes as Solana maintains one of crypto’s largest stablecoin markets. DefiLlama currently tracks approximately $15.1 billion in stablecoins on the network, down from the $17.51 billion record reported by Solana in September. USDC remains the largest individual stablecoin on the chain at roughly $7 billion. Card spending has continued rising even as aggregate stablecoin supply has retreated from its September peak, showing that token balances and payment activity can move in different directions.
Circle treasury activity has also remained substantial, including a period when it reportedly minted about $3.5 billion in USDC on Solana during one week in October. Those transactions represented gross issuance rather than an equivalent increase in circulating supply because Solana uses Circle’s pre-mint infrastructure. Large treasury mints therefore provide operational capacity for USDC distribution but should not be treated as direct evidence of payment demand or fresh capital entering Solana.
The payments layer is expanding through conventional financial infrastructure as well. Mastercard has added Solana to its always-on stablecoin settlement rollout, allowing participating issuers and acquirers to use regulated stablecoins for settlement outside traditional banking windows. Mastercard settlement and consumer card spending are separate measurements, but both show stablecoins being integrated into different stages of the existing card-payment stack.
Consumer distribution is broadening further through Samsung Wallet’s integration of USDC on Solana, which is rolling out to eligible U.S. Galaxy users. That deployment provides another potential route between stablecoin balances and mainstream payment interfaces. Compatible devices and available infrastructure do not establish adoption by themselves, making activated accounts and transaction volumes the more useful subsequent metrics.
Solana DvP Moves Institutional Settlement to Mainnet
Solana’s financial infrastructure is also advancing beyond card payments. Contrary to describing the technology as still under development, the Solana Foundation launched its Delivery-versus-Payment program on mainnet on October 6. The open-source system uses program-controlled escrow so an asset leg and payment leg settle atomically: either both transfers execute or neither does.
The DvP program is aimed at institutional securities settlement rather than consumer card payments and has been audited by Cantina. A designated settlement authority executes agreed trades after both parties fund their escrow legs, while either participant can reclaim its own assets before settlement under defined conditions. The architecture reduces principal risk between the two parties but does not eliminate issuer, custody, regulatory or settlement-authority risk.
October’s $141 million card record therefore captures one specific form of stablecoin usage inside a much larger payments and settlement stack. The stronger signal is that Solana now has measurable consumer card activity alongside live institutional settlement infrastructure, while the durability of that growth will depend on whether payment volume continues expanding beyond its current programs rather than simply on stablecoin supply or available integrations.
Liam Foster follows crypto markets from France, with a close eye on Bitcoin, Ethereum, Layer 1 assets, derivatives, sentiment and smart money flows. His coverage looks past the daily price move to understand what is happening underneath: liquidity, leverage, positioning and the behavior of larger players.
Liam’s style is calm, sharp and deliberately anti-crystal-ball. He does not frame every market move as a breakout or collapse. Instead, he focuses on what the data can actually support, where traders may be crowded and when a signal deserves attention without becoming a prediction.