A number of encryption exchanges, such as Crypto.com and Kaken, explore the launch of their Stablecoins in Europe after the European Union is directed to remove Stablecoins that do not meet regulatory standards, including the USDT (USDT). March 31.
Crypto.com, KAKEN to launch STABLECOINS special in the European Union
Crypto.com was set to launch its Stablecoin project in the third quarter of 2025. Meanwhile, it replaces the liquidity gap left by Tether’s exit from Europe. This step is to ensure that its new digital origin is compatible with the strict regulatory requirements of the European Union, according to the sources.
Kraken, on the other hand, focuses on creating Stablecoin in US dollars through Irish subsidiary companies, Payward Ireland Limited and Payward Euro Solutions Limited. While Kraken plans to convert any incompatible holdings to a different stablecoin, its distinctive symbol is still in the early stages of development and is unlikely to be ready in time for the deadline.
Kraken is also part of the Global Dollar Network, which presented USDG with Paxos last year. Other members of the consortium, such as Robinhood and Galaxy Digital, also perform in Stablecoin.
The Stablecoin scene has become more competitive since the European Union has imposed that exporters retain an electronic money license in at least one member country. To date, only a few secured such licenses, as Circle got last summer to run USDC into the European Union.
Tether, the world’s largest Stablecoin in the world worth 142 billion dollars, has not yet received the necessary approvals, which contributed to the decrease in its market share. In fact, according to Defillama, its share fell from 70 % in December to about 63 %.
Meanwhile, some strategic partnership exchanges choose instead of launching their Stablecoins. Coinbase and Binance inhibited the cord and other incompatible codes in Europe, in favor of USDC.
In addition, the stock exchanges like Gemini looked at the expansion of Gusd Stablecoin in Europe but have declined since then.
Also read: SEC launches the electronic unit for the protection of the retail encryption investors
