Kraken Lists USDC, Helps Drive Adoption of World’s Fastest-Growing Stablecoin
Kraken, one of the world’s largest crypto exchanges, today listed USD Coin (USDC), the world’s fastest-growing stablecoin.
Kraken has opened deposits and withdrawals and trading begins today across the following trading pairs:
The news comes amid continued growth for USDC. In December, USDC became the second stablecoin to ever have its market cap cross $500 million. The market cap has since fallen below $500 million, which is a function of market dynamics. Traders can redeem USDC for fiat anytime they want — in fact, so far nearly $1 billion of USDC has been redeemed.
The number of companies supporting USDC is unparalleled: More than 100 companies across the crypto ecosystem and 60+ exchanges globally support USDC. You can see all of USDC’s supporters here.
More about USDC & CENTRE
USDC was introduced by the CENTRE Consortium, a joint venture co-founded by Circle and Coinbase, to establish an open standard for fiat on the internet and provide a governance framework and network for the global, mainstream adoption of asset-backed stablecoins. (ICYMI: CENTRE is open for business and is considering a global digital currency that is backed by reserve currency tokens.)
You can learn more about USDC here, and tokenize or redeem USDC with both Circle and Coinbase. You can go here to read the monthly reports on US dollar reserves backing USDC issued by independent accounting firm, Grant Thornton LLP.
To join developers, traders, and others talking about USDC, join our growing Discord community.