TechFlow reported on February 21, citing Bloomberg and sources familiar with the matter, that cryptocurrency exchange Kraken is exploring plans to develop a stablecoin business. The initiative stems partly from market opportunities created by new European regulations requiring crypto service providers to delist unauthorized tokens such as USDT. The stablecoin, pegged to the U.S. dollar, would be issued by Kraken's Irish division, according to the report.
Additionally, Crypto.com has outlined its stablecoin plans in its 2025 roadmap, aiming to launch the product in the third quarter. Sources indicated that the exchange intends to roll out the token in Europe and has already notified users that USDT will be phased out from trading in the region by the end of March.
