Key Takeaways:
- USDC on Kraken buying and selling quantity elevated over 30% in a 1-year time interval.
- Kraken has traded practically 1 billion EURC because it listed.
- DeFi Earn by Kraken has over $350 Million price of USDC deposits.
Circle says its stablecoin partnership with Kraken is producing measurable progress throughout buying and selling, funding and onchain merchandise.
Stablecoins are transferring deeper into the merchandise clients already use.
Kraken partnered with Circle to broaden USDC and EURC utility throughout funding, buying and selling, pockets infrastructure, and onchain entry.
The outcomes:
→ 30% USDC AUC progress on Kraken since its September 2025 partnership with Circle
→ Almost 1B EURC traded on Kraken since itemizing
→ 350M USDC deposited to Kraken’s DeFi Earn vaults submit launchFor Kraken, constructing with USDC and EURC helped cut back fragmentation throughout core platform flows and provides clients extra direct entry to dollar- and euro-denominated stablecoin utility.
https://t.co/Qxaxgtoz6S
— Circle (@circle) October 28, 2026
The businesses’ partnership has since widened in September 2025, and USDC quantity on Kraken has risen by over 30% whereas EURC has grown into a big buying and selling market in euros.
Kraken Pushes USDC Past Spot Buying and selling
In 2020, Kraken already had ties with USDC, however in 2025, it can lengthen the token into the alternate’s infrastructure by means of a partnership with Circle.
Reasonably than simply utilizing USDC as a buying and selling pair, Kraken translated its funding, earn choices, pockets infrastructure and onchain purposes to this pair. Circle aimed to offer fewer conversion steps and extra direct entry for customers to transform to the $ with a view to arbitrate.
The technique looks like it’s beginning to succeed. In response to Circle, USDC on Kraken has risen by over 30% since September of 2025 to September of 2026. As of October 26, Circle says that it has roughly $71 billion price of USDC in circulation, and roughly $71.2 billion price of reserve denominated in USDC.
Learn Extra: Circle Brings USDC and EURC Into SAP Workflows Powering 84% of Global Commerce
DeFi Earn Pulls in $350M of USDC
The obvious one is arguably the DeFi Earn product of Kraken. Eligible belongings deposited by clients might be transformed into USDC, moved by means of an embedded pockets and allotted into Veda vaults on Ink, Kraken-supported Ethereum Layer 2 infrastructure constructed on the Optimism stack.
They can join with third-party lending protocols equivalent to Aave, whereas danger managers are impartial thus managing liquidity and allocations. Within the months after the launch, over $350 million price of USDC was deposited into Circle’s DeFi Earn vaults.
EURC Buying and selling Approaches 1 Billion on Kraken
Kraken additionally launched its € stablecoin launch with the addition of EURC in September 2025. Below the MiCA framework in Europe, the token will provide them an alternate buying and selling choice that’s denominated in euros, in addition to account funding and collateral.
In response to Circle, EURC’s on-chain quantity has elevated from nearly 4 million tokens in October 2025 to over 75 million tokens by September 2026. In some months, over 100 million EURC price of buying and selling has been recorded; in whole, buying and selling because the itemizing has been near 1 billion EURC.
Circle and Kraken Flip Stablecoins Into Core Infrastructure
The partnership has introduced an even bigger pattern in direction of the adoption of stablecoins amongst exchanges. Settlement and liquidity infrastructure have developed far more shortly for USDC and EURC than they’ve for the {dollars} and euros which can be traded, settled, and created.
For Kraken, the double token strategy from a single issuer will decrease the necessity to coordinate between a number of stablecoin issuers concerning funding, buying and selling and onchain processes. In response to Circle, this has helped minimize down on fragmentations and foster entry to liquidity in {dollars} and euros.
It’s also part of USDC’s exercise that’s being scaled in crypto markets. All through the primary half of 2026, Circle crossed USDC onchain transaction quantity of over $36 trillion, highlighting how stablecoins at the moment are turning into a mainstay of alternate and settlement infrastructure.
Learn Extra: Kraken Launches xStocks Vaults With Up to 2% Yield on Tokenized Stocks and ETFs Now
