Kraken has announced a strategic partnership with Circle Internet Group, Inc. (NYSE: CRCL), a leader in the stablecoin market. The collaboration aims to strengthen Kraken's stablecoin offerings and expand global access to Circle's USDC and EURC. As part of the agreement, Kraken will deepen support for USDC liquidity and integrate EURC, Circle's fully reserved euro stablecoin.
The initiative is designed to boost adoption of stablecoins as core financial infrastructure. Kraken users will benefit from greater liquidity, reduced conversion fees, and access to new stablecoin-powered products across the platform. This comes at a time when stablecoins are increasingly relied upon for payments, trading, and broader onchain applications, supported by growing regulatory clarity in key jurisdictions worldwide.
Mark Greenberg, Global Head of Kraken's Consumer Business, emphasized the importance of stablecoins: "Stablecoins are the financial layer most aligned with crypto's original architecture. Permissionless, programmable, and global by default." Kash Razzaghi, Chief Commercial Officer at Circle, added: "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."
Kraken, with over 15 million clients worldwide, has been offering stablecoins since 2017. The integration of USDC and EURC expands Kraken's multi-currency offering, which already includes six major fiat currencies alongside hundreds of digital assets. Additional details on new stablecoin-powered products and services are expected in the coming months.