Are Crypto.com And Kraken Launching Their Own Proprietary Stablecoins This Year?

The article discusses how crypto exchanges Crypto.com and Kraken are considering launching their own proprietary stablecoins in response to the European Union’s MiCA regulations. These regulations have disrupted the use of existing stablecoins like Tether, prompting exchanges to develop compliant alternatives.

Kraken plans to launch a dollar-backed stablecoin through its Irish subsidiary, while Crypto.com aims to introduce its own stablecoin in the third quarter of 2025. The growing popularity of stablecoins like USDC, which recently hit a record $56 billion market cap, highlights the increasing demand for these digital assets in the cryptocurrency market.

Overall, the article suggests that the introduction of proprietary stablecoins by exchanges like Crypto.com and Kraken is a strategic move to adapt to regulatory changes and meet the needs of their users in Europe.