PANews reported on August 13th that Squads, the Solana ecosystem's multi-signature protocol, announced a strategic partnership with Coinbase to accelerate the adoption of USDC and its mission to drive stablecoin-driven finance. Squads has locked over $1 billion in USDC in its products, representing nearly 15% of Solana's total supply. This partnership further strengthens USDC as the default stablecoin across its product suite.

Earlier news reported that Solana ecosystem multi-signature agreement Squads completed a US$10 million Series A financing round, led by Electric Capital .