A new stablecoin product identified as USDC+ has launched on its mainnet, accumulating more than $2 million in deposits over its inaugural weekend.

The debut is being managed through an invite-only system by Reflect, with a form available for interested users to request access. This controlled rollout is further defined by a current deposit cap, which is set at $10 million.

Reflect is a non-custodial protocol designed to transform idle stablecoin reserves into productive capital without compromising liquidity. Built on Solana’s high-speed and low-cost blockchain, USDC+ tokenizes USDC (a widely used stablecoin issued by Circle) into a yield-generating asset. The protocol employs strategies such as delta-neutral basis trades and lending to generate passive income for holders, all while keeping assets fully liquid for trading or transfers.

This launch strategy suggests a measured approach, allowing the project to scale carefully while assessing initial user activity and system performance. The specific entity or developer behind USDC+ was not mentioned in the announcement.

The launch of USDC+ on mainnet marks a significant achievement for Reflect, which recently secured $3.75 million in funding led by a16z crypto, with participation from Solana Ventures, Equilibrium, Colosseum, and Big Brain Holdings.