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Kraken has integrated USDC on the Algorand blockchain, enabling customers to deposit and withdraw the stablecoin on both the Kraken exchange and the Krak mobile app. The integration provides access to fast, low-cost transactions using Algorand's blockchain infrastructure.
Devan Moorthy, Head of Business Development, Algorand Foundation
Devan Moorthy, Head of Business Development, Algorand Foundation, said:
“Expanding access to USDC on Algorand through Kraken brings fast, low-cost digital dollar transactions to millions of customers worldwide. This integration highlights how Algorand's high-performance infrastructure supports real-world financial use at global scale,”
Kraken customers can now move USDC with near-instant settlement and minimal fees through Algorand's blockchain. The stablecoin will also be available within Krak, Kraken's money app, allowing customers to spend, send and hold both USDC and ALGO, Algorand's native token.
As part of the integration, Kraken will operate an Algorand node, contributing to the network's decentralisation and resilience. The exchange will also receive a delegation of ALGO to support infrastructure, though these tokens will not earn rewards.
Algorand is a public layer-1 blockchain built for financial empowerment. The company offers tools to move money across borders, issue and manage assets, verify identity and develop services that rely on dependable performance and instant settlement. Developers and organisations use Algorand to create tools for payments, identity, asset tokenisation, public records and other financial services.
The Algorand ecosystem spans startups, developers, governments and global partners building financial and digital-asset solutions.
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