Kraken to list USDC stablecoin tomorrow

Crypto exchange Kraken is set to list the USDC stablecoin, which is issued by the Coinbase and Circle-backed CENTRE Consortium. 

Users of Kraken will be able to trade the stablecoin starting Jan. 8, according to an announcement published Tuesday. USDC is the third stablecoin offering by Kraken, after Tether (USDT) and DAI.

The supply of USDC has risen by almost 98% since Jan. 1, 2019 at over 518 million, according to The Block's research.

Kraken has also established five trading pairs for USDC: bitcoin (BTC)/ USDC; ether (ETH)/USDC; USDC/ euro (EUR); USDC/ U.S. dollar (USD) and USDC/USDT.

Notably, the USDC support is currently only available for Kraken, Kraken Pro and its over-the-counter trading platforms. The stablecoin is not being added to Kraken's Futures and Margin Trading platforms at this time.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.