Circle reports USDC growth on Kraken as EURC volume hits 1 billion

The integration spans funding, trading, and onchain access, marking a shift toward embedding stablecoins into everyday financial tools. A primary driver of this growth is Kraken’s DeFi Earn, which launched in January 2026. This service allows users to channel USDC into lending protocols, with 350 million USDC deposited into the vaults shortly after rollout. By utilizing Veda vaults on Kraken’s Ink network, the exchange enables users to supply liquidity to lending markets like Aave without managing the complexity of onchain transactions or seed phrases.

Beyond dollar-pegged assets, EURC has gained significant traction. Kraken now uses the euro-denominated stablecoin for margin extensions on euro-quoted pairs, automatically converting the token at a one-to-one rate to streamline trading. This expansion into European markets aligns with Circle’s broader strategy to scale EURC, which saw its circulation surpass 400 million earlier in 2025. As Circle pushes for regulatory adjustments under the European Union’s MiCA framework, the company continues to position its stablecoin infrastructure as a bridge between traditional exchange interfaces and decentralized finance protocols.