TLDR
- Kraken has partnered with Circle to enhance the adoption of USDC and EURC stablecoins.
- The partnership will increase liquidity and utility for Kraken’s customers using USDC.
- Kraken will also reduce conversion fees for users who utilize USDC on the platform.
- Kraken plans to introduce EURC, Circle’s euro-backed stablecoin, to its platform.
- Both companies aim to drive crypto adoption and expand the use of stablecoins in global finance.
Crypto exchange Kraken has partnered with Circle to expand the adoption of stablecoins in the global financial system. Through this collaboration, Kraken will enhance support for Circle’s stablecoins: the U.S. dollar-backed USDC and the euro-pegged EURC. Kraken aims to provide its clients with increased liquidity and improved utility in on-chain financial applications.
Kraken Enhances USDC Liquidity and Utility
Kraken is expanding its support for USDC, the second-largest U.S. dollar-backed stablecoin. The partnership with Circle will offer Kraken customers more liquidity and utility in their financial activities. Kraken clients will also experience reduced conversion fees when using USDC on the platform.
Mark Greenberg, Kraken’s global head of consumer business, emphasized the importance of stablecoins. He stated,
“Stablecoins are the financial layer most aligned with crypto’s original architecture. Permissionless, programmable, and global by default.”
He further explained that this collaboration is designed to foster crypto adoption by integrating products that customers already trust.
Circle and Kraken Drive On-Chain Finance Growth
Kraken also plans to introduce EURC, Circle’s fully-reserved euro-pegged stablecoin. By offering EURC, Kraken will provide its clients access to a new, global stablecoin option. The addition of EURC is expected to open more opportunities for users to engage in on-chain finance.
Kash Razzaghi, Circle’s chief commercial officer, highlighted the potential of the partnership. He said,
“We’re focused on building the world’s largest, most widely used stablecoin network. Partnering with platforms like Kraken will drive new opportunities for on-chain finance.”
This collaboration will help both companies expand the utility of stablecoins across the global financial system.
Kraken and Circle are working together to expand the reach of USDC and EURC. The partnership aims to strengthen the stablecoin ecosystem and create more opportunities for crypto adoption.
