Squads has announced a strategic partnership with Coinbase aimed at accelerating the adoption of USD Coin (USDC) in the Solana ecosystem.
Squads and Coinbase Partnership
The partnership between Squads and Coinbase aims to accelerate the adoption of USD Coin (USDC) on the Solana platform. Both companies are committed to strengthening USDC's status as the leading stablecoin in decentralized finance. Squads has already integrated over $1 billion in USDC, which accounts for nearly 15% of the total USDC supply on Solana.
Squads Infrastructure and Technologies
Founded in 2021, Squads has developed infrastructure for self-custody and management of digital assets. Its flagship product, Squads Multisig, has become the treasury management standard on Solana, safeguarding over $10 billion in assets and processing over $5 billion in stablecoin transfers.
Impact on Economy and DeFi
The partnership with Coinbase and the growing demand for stablecoins drive further growth for Squads. USDC is utilized across various company products like Altitude and Fuse, enabling faster and more efficient operations in DeFi and fintech infrastructure. The companies view this collaboration as a step toward solidifying stablecoins as a critical component of the financial system.
The partnership between Squads and Coinbase underscores the importance of building a sustainable financial model based on stablecoins and offers the potential to significantly expand the use of USDC across various economic sectors.
