Circle Reports 30% USDC Custody Growth on Kraken

Circle has reported a 30% growth in USDC assets under custody on Kraken since the implementation of their partnership in September 2025, according to a case study published by the stablecoin issuer.

In addition to the custody growth, Circle noted that nearly 1 billion EURC has been traded on the exchange since the euro-backed stablecoin's listing. The collaboration between the two companies spans funding, trading, wallet infrastructure, and onchain access, aiming to reduce platform fragmentation and integrate stablecoin services directly into existing products.

DeFi Earn and Margin Trading Integration

Following the partnership, Kraken launched its DeFi Earn product on Jan. 26, 2026, which allowed customers to allocate stablecoins to onchain lending. Circle reported that 350 million USDC was deposited into Kraken's DeFi Earn vaults after the launch. The product routes funds through Veda vaults supplying lending protocols such as Aave.

Additionally, Kraken announced support for USDC and EURC in margin extensions for European Economic Area clients. Dollar-quoted cash pairs utilize USDC, while euro-quoted pairs use EURC, with automatic conversions processed at a one-to-one rate without conversion fees.

Key facts

• USDC assets under custody on Kraken grew 30% since the September 2025 partnership.
• Nearly 1 billion EURC has been traded on Kraken since its listing.
• Circle reported 350 million USDC deposited into Kraken's DeFi Earn vaults after launch.
• Kraken launched DeFi Earn on Jan. 26, 2026, using Veda vaults to supply lending protocols.