{"id":14390,"date":"2025-02-21T17:47:05","date_gmt":"2025-02-21T17:47:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14390"},"modified":"2025-02-21T17:47:05","modified_gmt":"2025-02-21T17:47:05","slug":"are-crypto-com-and-kraken-launching-their-own-proprietary-stablecoins-this-year","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14390","title":{"rendered":"Are Crypto.com And Kraken Launching Their Own Proprietary Stablecoins This Year?"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Crypto exchanges Crypto.com and Kraken may introduce their proprietary stablecoins soon. <\/span><span style=\"font-weight: 400\">This strategic decision may be a response to the European Union\u2019s Markets in Crypto-Assets (MiCA) regulations, which require exchanges to comply with strict rules regarding the use of stablecoins within the region.<\/span><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-02-20\/crypto-exchanges-mull-own-stablecoins-in-europe-conundrum?embedded-checkout=true\" target=\"_blank\" rel=\"nofollow\">A Bloomberg report<\/a> dated 20 February 2025 hinted at new entrants like Crypto.com and Kraken wanting \u201cin on the game\u201d of running a stablecoin business, which is highly profitable these days.<\/p>\n<p>The largest stablecoin, Tether\u2019s USDT, is yet to obtain their MiCA license owing to their lack of transparency regarding their reserves, something that they have faced criticism for in the past.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/26a1.png\" alt=\"\u26a1\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> JUST IN: Kraken and <a href=\"https:\/\/t.co\/5EbF7oCv0k\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/5EbF7oCv0k<\/a> are planning to launch their own stablecoins in the EU, taking advantage of Tether&#8217;s absence in the region due to new regulations, according to Bloomberg.<\/p>\n<p>So far, only 10 companies have been approved to issue stablecoins under the\u2026 <a href=\"https:\/\/t.co\/K2h9G7Zp3M\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/K2h9G7Zp3M<\/a><\/p>\n<p>\u2014 Mayank Dudeja (@imcryptofreak) <a href=\"https:\/\/twitter.com\/imcryptofreak\/status\/1892834149054239069?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 21, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Recently, both Coinbase and Crypto.com delisted Tether due to MiCA.<\/p>\n<p>Meanwhile, a Tether spokesperson said, \u201cIt is disappointing to see the rushed actions brought on by statements which do little to clarify the basis for such moves.\u201d<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/micas-usdt-delisting-disappoints-tether-says-could-make-the-market-disorderly\/\" rel=\"bookmark\">MiCA\u2019s USDT Delisting Disappoints Tether, Says Could Make the Market Disorderly<\/a><\/strong><\/p>\n<h2>MiCA\u2019s Stringent Requirements: Push Behind Proprietary Stablecoins<\/h2>\n<p><span style=\"font-weight: 400\">The MiCA regulations, which aim to establish a clear legal framework for cryptocurrencies in Europe, have introduced stringent requirements for stablecoins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the new regulations have disrupted the status quo of giants like Tether, prompting exchanges like Kraken and Crypto.com to take proactive measures to ensure continuity of services for their European users.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under these rules, unauthorized stablecoins must be removed from trading platforms operating within the EU. This has created a pressing need for exchanges. They can either discontinue the use of third-party stablecoins or develop their own compliant alternatives.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A dollar-backed stablecoin is presently being developed by Kraken. It will be distributed via its Irish subsidiary. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In the third quarter of 2025, Crypto.com also intends to introduce its own stablecoin. However, further details on both stablecoins are not known yet.\u00a0<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/tether-clashes-with-jpmorgan-over-bitcoin-sale-suggestion-will-tether-sell-btc-to-comply-with-us-stablecoin-regulations\/\" rel=\"bookmark\">Tether Clashes With JPMorgan Over Bitcoin Sale Suggestion: Will Tether Sell BTC To Comply With US Stablecoin Regulations?<\/a><\/strong><\/p>\n<h2 class=\"page-title\">USDC Hits Record $56B Market Cap<\/h2>\n<p>USDC hit a record $56B market cap, a remarkable growth. It increased its market cap by 22% in just one month, adding $10.39 billion to circulation. This surge has propelled USDC past its previous 2022 peak, marking a full recovery from the 2023 banking crisis that temporarily shook investor confidence.<\/p>\n<p>A major driver of USDC\u2019s expansion is its growing use in Solana-based decentralized finance (DeFi) applications. Solana\u2019s low fees and fast transactions have made it a favorite for traders, and USDC is becoming the stablecoin of choice for liquidity pools, swaps, and lending protocols.<\/p>\n<p>Meanwhile, USDT (Tether)\u2014the market\u2019s largest stablecoin\u2014expanded by only 3.4% ($4.67 billion) in the same period. With USDC\u2019s circulation up 78% year-over-year, outpacing every other major stablecoin, the demand for this digital dollar is at an all-time high.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/usdc-hits-record-56b-market-cap-a-new-era-for-stablecoins\/\" rel=\"bookmark\">USDC Hits Record $56B Market Cap: A New Era for Stablecoins?<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">Kraken, one of the leading cryptocurrency exchanges globally, has announced plans to launch its own stablecoin pegged to the US dollar. The coin will be issued through Kraken\u2019s subsidiary in Ireland, a country known for its favorable regulatory environment and robust financial infrastructure.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">Similarly, Crypto.com has revealed its plans to introduce its own stablecoin in the third quarter of 2025. The exchange aims to expand its presence in Europe by offering a compliant alternative that meets the requirements of MiCA.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/are-crypto-com-and-kraken-launching-their-own-proprietary-stablecoins-this-year\/\">Are Crypto.com And Kraken Launching Their Own Proprietary Stablecoins This Year?<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchanges Crypto.com and Kraken may introduce their proprietary stablecoins soon. This strategic decision may be a response to the European Union\u2019s Markets in Crypto-Assets (MiCA) regulations, which require exchanges to comply with strict rules regarding the use of stablecoins within the region. A Bloomberg report dated 20 February 2025 hinted at new entrants like [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14390","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14390"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14390\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}