Kraken and Crypto.com to launch proprietary stablecoins in 2025

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Crypto Platforms Get Serious: Stablecoins Coming in 2025! 💰🚀

So, guess what? The EU has decided that stablecoin issuers need to play by the rules starting in 2025. I mean, who knew? It’s like they want to make sure we’re not just throwing our money into a digital wishing well! 💸

Thanks to the new Markets in Crypto-Assets regulation (or MiCA, because who doesn’t love a good acronym?), all those crypto platforms like Kraken and Crypto.com are scrambling to whip up their own stablecoins. Because nothing says “trustworthy” like a coin that’s stable, right? It’s like the adult version of a security blanket! 🧸

Stablecoins are basically the chill cousins of cryptocurrencies. They’re designed to keep their cool and not freak out like Bitcoin on a rollercoaster. Usually, they’re backed by good ol’ traditional currencies like the U.S. dollar or euro. You know, the ones that don’t make you question your life choices every time you check the price. 😅

Normally, these exchanges have been cozying up to third-party stablecoins like Tether (USDT) and USD Coin (USDC). But with the EU regulations breathing down their necks, they’re like, “Uh-oh, we better make our own!” Because who wants to be left holding the bag if Tether decides to go rogue? 😬

Kraken is already on it, working on a dollar-backed stablecoin through its Irish subsidiary. Because nothing says “I’m serious about compliance” like a coin with a side of Guinness! 🍺 Crypto.com is also in the game, planning to launch its own stablecoin in the third quarter of 2025. But, spoiler alert: they’re still keeping the details under wraps. It’s like a surprise party, but for your money! 🎉

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2025-02-21 13:36