The crypto exchange and stablecoin issuer team up to boost liquidity, reduce fees, and promote stablecoin adoption worldwide.
Partnership
Kraken, one of the world’s longest-standing and most secure cryptocurrency platforms and Circle, a leading fintech company and stablecoin issuer, announced their collaboration on September 17, 2025, aimed to expand access to two of its flagship stablecoins: the U.S. dollar-pegged USDC and the euro-denominated EURC.
Strengthening stablecoin adoption and market presence
Clients will benefit from increased liquidity, reduced conversion fees, and new opportunities to deploy USDC across onchain applications. EURC will also be introduced on Kraken’s platform, providing additional options for European users.
“Stablecoins are the financial layer most aligned with crypto’s original architecture. Permissionless, programmable, and global by default,” said Mark Greenberg, Global Head of Kraken’s Consumer Business.
Following with:
“Expanding support for Circle’s products isn’t about ticking boxes. It’s about embedding new opportunities into products our clients already use and trust.”
USDC is currently the second-largest U.S. dollar-pegged stablecoin, with a market capitalization of approximately $73.5 billion, according to CoinMarketCap, while Tether’s USDT remains the largest at over $171 billion. EURC, though smaller at $238.7 million, has shown consistent growth, more than doubling from $36.4 million fourteen months ago.
USDC and EURC are two of the four stablecoins accepted by Visa and Mastercard, enabling on-chain settlements. Jack Forestell, Visa’s Chief Product & Strategy Officer, highlighted a four-fold increase in stablecoin settlement volume, rising from $250 million to $1 billion in a few months.
Kash Razzaghi, Chief Commercial Officer at Circle, said:
“The partnership extends the benefits of stablecoins to Kraken’s millions of users, helping to build the world’s largest and most widely used stablecoin network while driving new on-chain finance opportunities.”
Kraken’s role in the global stablecoin market
Since introducing stablecoins in 2017, Kraken has seen strong growth in demand, particularly as regulatory clarity improves across jurisdictions.
The partnership between Kraken and Circle comes at a time of increasing regulatory clarity for stablecoins, particularly in the United States. The passage of the GENIUS Act has created a framework for regulated issuers like Circle to expand their operations confidently, reinforcing trust for both retail and institutional users. Regulatory certainty has been credited with supporting the sustained growth of USDC, which now has a market capitalization of approximately $73.5 billion.
Stablecoins as an indicator of crypto growth
Beyond transactional use, stablecoins often serve as a market growth indicator; it is suggested that large-scale USDT issuances can foreshadow bullish trends. This partnership positions Kraken and Circle to harness that momentum, offering broader adoption and reducing friction for users to access fully-backed, regulated stablecoins.
As stablecoins become core infrastructure in the global digital financial system, such massive collaboration represents a step toward wider adoption, increased liquidity, and responsible growth.
Anastasiia G
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