Kraken has added transfer support for USDC on Injective; trading on Kraken App and Instant Buy will be added later if liquidity conditions are met, with geographic restrictions potentially applying.
Kraken has enabled deposits and withdrawals for USDC on the Injective network, allowing clients to fund and transfer the stablecoin over that blockchain. The exchange said users must send tokens only through networks Kraken supports or risk losing funds. Trading through Kraken App and Instant Buy is not yet available and will go live once liquidity conditions are met, meaning enough buyers and sellers are present for orders to be matched efficiently. Kraken described USDC as a fully reserved digital dollar stablecoin issued by Circle and backed 1:1 by U.S. dollar reserves held at regulated financial institutions, redeemable 1:1 for U.S. dollars. It said geographic restrictions may apply and reiterated that it does not disclose future listing plans before launch.