Kraken, a global crypto platform, has partnered with an affiliate of Circle Internet Group, a financial technology company and stablecoin market leader, to expand access and utility for USDC and EURC on the Kraken platform.
Kraken and Circle aim to accelerate the development of onchain financial applications through this collaboration. The partnership deepens Kraken’s existing support for USDC, building on its position as a leading provider of stablecoin liquidity globally. It will also introduce access to EURC, Circle’s fully reserved euro stablecoin, for Kraken clients.
Clients of Kraken will benefit from increased liquidity, reduced conversion fees, and new opportunities to deploy USDC across Kraken’s applications. Since introducing stablecoins in 2017, Kraken has observed consistent growth in demand from users for trading and payments. This momentum, along with Kraken’s stablecoin market share, has accelerated over the past year due to improved regulatory clarity in various jurisdictions and increased confidence in the stablecoin category.
Mark Greenberg, Global Head of Kraken’s Consumer Business, stated, “Stablecoins are the financial layer most aligned with crypto’s original architecture. Permissionless, programmable, and global by default. Expanding support for Circle’s products isn’t about ticking boxes. It’s about embedding new opportunities to benefit from Circle-issued stablecoins into products our clients already use and trust.”Kash Razzaghi, Chief Commercial Officer at Circle, commented, “We’re focused on building the world’s largest, most widely used stablecoin network, and partnering with leading platforms, like Kraken, to drive new opportunities for onchain finance. Expanding access to Circle’s products across Kraken’s established ecosystem can help extend the benefits of stablecoins to their millions of users.”Further details regarding expanded products and opportunities for Kraken clients resulting from this partnership are expected to be shared in the coming months. Kraken, founded in 2011, allows clients to trade over 500 digital assets, traditional assets, and six national currencies. It serves more than 15 million institutions, professional traders, and consumers, and was the first crypto platform to conduct Proof of Reserves. Circle enables businesses to utilize digital currencies and public blockchains for payments, commerce, and financial applications globally, and issues USDC and EURC stablecoins through its regulated affiliates.
