Summary
- Reports indicate Kraken is planning to develop its own stablecoin that complies with Europe's MiCA regulation.
- The stablecoin is set to be issued from their Irish branch.
- Kraken's move appears to be a strategic decision for expansion into the European market.
Kraken has been revealed to be developing its own stablecoin that complies with new European Union (EU) regulations.
On the 21st (local time), Bloomberg reported, citing sources, that Kraken is exploring the development of a dollar-pegged stablecoin that complies with Europe's MiCA (Markets in Crypto-Assets) regulation. This is planned to be issued through its Irish branch.
Meanwhile, Crypto.com announced last November its plans to launch its own stablecoin in the third quarter of this year, aiming to expand into the European market.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)