The upcoming stablecoin launches from Kraken and Crypto.com in 2025 will happen because of new EU rules that force stablecoin issuers to get regulatory approval.
Starting January 2025 MiCA will require every EU bloc stablecoin issuer to receive government permission to conduct business operations. The regulations seek to create more open trading conditions along with better standards of service for users of digital currency products. Because of the report in Bloomberg, major crypto platforms advance their compliance practices while maintaining regular business operations.
Kraken and Crypto.com Issue Stablecoins
Contractors set up stablecoins to hold their value at one dollar or euro against traditional fiat money. People turn to these assets for steady conversions from cryptocurrency into stable money because normal digital coins tend to be unstable.
Most crypto exchanges today use stablecoins created by third-party companies including Tether and Circle which release USDT and USDC. Exchanges now run greater business risks because third-party stablecoin issuers need recognized EU authorizations. Kraken and Crypto.com work on building their own stablecoins to make sure their operations remain uninterrupted.
Kraken intends to issue a stablecoin supported by the U.S. dollar through its Irish operations. Crypto.com intends to release its stablecoin in the third quarter of 2025 with no information yet on which currency will support it.
Crypto service providers now work to control regulation while freeing themselves from stablecoin companies. Many crypto exchanges predict they will create their own stablecoins after MiCA starts working.
