Circle partners with Kraken to expand access to USDC, EURC stablecoins

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Circle Internet Group (NYSE:CRCL [https://seekingalpha.com/symbol/CRCL]) is teaming up [https://seekingalpha.com/pr/20235600-kraken-and-circle-partner-to-accelerate-global-access-and-utility-of-usdc-and-eurc] with crypto platform Kraken to broaden access to its USDC (USDC-USD [https://seekingalpha.com/symbol/USDC-USD]) and EURC stablecoins on Kraken, aiming to boost their use and drive new opportunities from onchain financial applications, the companies said Wednesday.

As part of the partnership, Kraken clients gain access to increased liquidity, as well as reduced conversion fees and new ways to deploy USDC (USDC-USD [https://seekingalpha.com/symbol/USDC-USD]) across Kraken’s applications. Kraken will also introduce access to EURC, Circle's (NYSE:CRCL [https://seekingalpha.com/symbol/CRCL]) fully reserved euro stablecoin.

Further details about the collaboration, including new products and benefits for Kraken users, will be shared in the coming months.

CRCL shares edged up 0.5% in premarket trading.

The move builds on Circle's (CRCL [https://seekingalpha.com/symbol/CRCL]) efforts to build "the world’s largest, most widely used stablecoin network, and partnering with leading platforms, like Kraken, to drive new opportunities for onchain finance,” said Kash Razzaghi, chief commercial officer at Circle.

Last week, the stablecoin issuer said it has partnered with Fireblocks [https://seekingalpha.com/news/4493452-circle-internet-strategically-collaborates-with-fireblocks] to make it easier for financial institutions to build digital asset offerings.

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