Core Insights - Kraken and Circle have formed a partnership to enhance stablecoin infrastructure, focusing on USDC and introducing EURC [1][2] - The collaboration aims to provide Kraken clients with improved liquidity, lower conversion fees, and new deployment opportunities for USDC [2] - Circle's USDC is recognized as the second-largest USD stablecoin by market cap and trading volume, with a 30-day volume of $661 billion [4] Group 1: Partnership Details - The partnership will deepen support for USDC and add EURC, which was previously unavailable on Kraken [1][2] - Kraken is ranked 13th in spot trading volume with $46.96 billion in August and 11th in derivatives trading with $46.01 billion [3] - Circle aims to build a large stablecoin network and expand access to its products through Kraken's ecosystem [5] Group 2: Market Context - USDC has a market cap of $68 billion and has seen significant growth since the 2024 election [6] - EURC, while currently a smaller asset with a market cap of $238.71 million, has shown consistent growth from $36.46 million over the past 14 months [8] - Stablecoins like USDC and EURC are crucial in the cryptocurrency market, often indicating growth trends [9]
Kraken to Reduce Fees, Increase USDC, EURC Liquidity in Partnership With Circle