Flare Network Announces the Official Market Release of USD₮0—its omnichain stablecoin pegged 1:1 to USDT—at Kraken

Flare Network, the modern blockchain focused on decentralized data with full EVM compatibility, today announced the official market release of USD₮0—its omnichain stablecoin pegged 1:1 to USDT—at Kraken, one of the world’s largest cryptocurrency exchanges.

The integration of USD₮0 on Kraken provides a main gateway for the Flare ecosystem to be easily accessed by the exchange’s users and unlocks advanced XRPfi capabilities in decentralized finance.

With the direct transfer of stablecoins to Kraken, users can now seamlessly reach Flare services without needing to perform manual conversions, utilize bridges, or engage with external platforms. This stablecoin integration introduces a new paradigm for secure financial access, facilitating the smooth flow of liquidity across all Flare DeFi applications.

Leveraging LayerZero’s Omnichain Fungible Token (OFT) standard, USD₮0 facilitates the seamless transfer of USDT across various blockchain networks. This architecture effectively eliminates the constraints posed by wrapped tokens, third-party bridges, and independent liquidity positions, reducing user difficulties and safeguarding the system's security from external threats.

“Kraken’s integration is a significant step forward for Flare’s DeFi ecosystem,” said Hugo Philion, Co-Founder and CEO of Flare. “It uniquely allows Kraken users holding USDT to seamlessly onboard directly onto Flare as USD₮0 without any additional conversions or marketplaces. This streamlined off-ramp simplifies the user experience, instantly providing access to secure, frictionless liquidity and significantly accelerating adoption and scalability for XRPfi.”

The launch of USD₮0 earlier this year marked the beginning of its rapid network expansion, which has seen the token become available on Arbitrum, Optimism, Unichain, and now Flare, following its initial deployment on Ethereum.

Security experts at Chaos Labs have recognized USD₮0 as “a breakthrough in stablecoin architecture” due to its safe and low-risk functionality for cross-chain transactions.

The partnership between Kraken and USD₮0 is comparable to Coinbase's integration of USDC, highlighting USD₮0 as a viable Tether alternative. It also leverages Kraken's deep liquidity and broad market reach for broader integration.

The XRPfi platform and the Flare Ecosystem will benefit from this development.

The addition of USD₮0 to Kraken forms a strong foundation for Flare’s XRPfi ecosystem as it provides the trusted stable base currency that DeFi borrowers, stakers, and traders need to engage in the ecosystem.

Key adoption milestones include:

* Users on the Kraken platform can now easily access the Flare ecosystem using the exchange's platform features.

* A collaborative Reef Airdrop campaign from Kraken is in development, with details of the campaign to be announced soon.

* Support for USDT/USD_cert transactions on Kraken may be limited by EEA regulatory requirements. However, decentralized exchange features offered by Flare are available to its users regardless of their geographic location.

About Flare

Flare is a modern blockchain for decentralized data with full EVM compatibility, powerful smart contracts, native oracle technology, and seamless chain communication capabilities. Designed for security and with a focus on real-world data connectivity, companies can use Flare to build scalable DeFi services, Artificial Intelligence, and institutional financial solutions.

Stay updated with the latest cryptocurrency news and analysis.

The post Flare’s USD₮0 Stablecoin Now Available on Kraken Exchange appeared first on iHoDL.com.

.