Kraken and Crypto.com Plan to Launch Their Own Stablecoins in 2025: Report

In response to the European Union’s Markets in Crypto-Assets (MiCA) regulations, Kraken and Crypto.com have outlined plans to introduce proprietary stablecoins by 2025 to maintain compliance and operational stability within the EU market.

Kraken and Crypto.com Respond to MiCA Regulations with Proprietary Stablecoins

According to Bloomberg, both exchanges are developing proprietary stablecoins to align with MiCA’s regulatory requirements.

⚡️ JUST IN: Kraken and https://t.co/5EbF7oCv0k are planning to launch their own stablecoins in the EU, taking advantage of Tether's absence in the region due to new regulations, according to Bloomberg.

So far, only 10 companies have been approved to issue stablecoins under the… pic.twitter.com/K2h9G7Zp3M

— Mayank Dudeja (@imcryptofreak) February 21, 2025

Kraken intends to launch a dollar-backed proprietary stablecoin through its Irish subsidiary to maintain uninterrupted services in the EU under MiCA regulations.

Similarly, Crypto.com is in the process of developing its proprietary stablecoin, which is expected to debut later in 2025. However, details regarding its fiat backing have yet to be disclosed.

This decision follows its recent expansion across all European Economic Area (EEA) member states after securing a MiCA license from Malta’s regulator, reinforcing its strategy to align with evolving EU requirements.

Under MiCA regulations, which took effect in January 2025, all stablecoin issuers must obtain EU authorization to operate.

As a result, exchanges are taking proactive measures by developing proprietary stablecoins rather than relying on external issuers, many of whom have yet to meet compliance requirements.

Crypto Exchanges Accelerate Stablecoin Development to Meet EU Standards

Crypto exchanges are ramping up their stablecoin development to comply with the EU’s stringent MiCA regulations.

The European Securities and Markets Authority (ESMA) has mandated that all non-compliant stablecoins be removed from trading platforms by the end of Q1 2025.

‼️ EU CRYPTO EXCHANGES GIVEN FINAL DEADLINE OF MARCH 2025 TO DELIST UNAUTHORIZED STABLECOINS‼️ pic.twitter.com/xWgq45jVz4

— SMQKE (@SMQKEDQG) January 23, 2025

This decisive regulatory action is compelling exchanges to move away from third-party stablecoin issuers, whose offerings—such as Tether’s USDT—currently lack the necessary EU authorization and comprehensive compliance plans.

In response, industry leaders like Kraken and Crypto.com are actively preparing to launch their own in-house stablecoin alternatives.

By doing so, they look to maintain operational stability and secure market access in an environment where regulatory oversight is intensifying.

KuCoin, for instance, has taken a proactive step by applying for a MiCA license in Austria, positioning itself to operate seamlessly across the European Economic Area.

🇦🇹 @kucoincom moves to comply with EU crypto laws by applying for a MiCA license in Austria, positioning itself for growth across Europe.#KuCoin #Europehttps://t.co/9JlmlE3vCH

— Cryptonews.com (@cryptonews) February 20, 2025

These strategic moves signal a broader industry shift toward greater regulatory alignment and transparency.

As crypto platforms adapt to the evolving landscape, both seasoned investors and newcomers are encouraged to reassess their views on digital finance.

Embracing a framework that prioritizes robust regulatory compliance may well pave the way for increased market confidence and sustainable growth in the long term.