Kraken and Flare Network Revolutionize Stablecoin Transfers with USD₮₀ Integration
In a groundbreaking development for the cryptocurrency sector, Kraken has integrated Flare Network’s omnichain stablecoin USD₮₀, significantly enhancing stablecoin transfer efficiency and adoption. This integration leverages LayerZero’s OFT standard, enabling seamless on/off-ramp functionality without the need for bridges or third-party intermediaries. Kraken users can now withdraw USDT as USD₮₀ directly to Flare wallets, marking a pivotal step toward greater liquidity and reduced technical barriers in the ecosystem.
Flare Integrates with Kraken to Transform Stablecoin Transfers and XRPfi Adoption
Flare Network’s omnichain stablecoin USD₮₀ has been integrated by Kraken, marking a significant step in streamlining stablecoin transfers. The 1:1 USDT-backed asset leverages LayerZero’s OFT standard, enabling direct on/off-ramp functionality without bridges or third-party intermediaries.
Kraken users can now withdraw USDT as USD₮₀ directly to Flare wallets, enhancing liquidity and reducing technical barriers in DeFi. This aligns with Flare’s broader vision of frictionless cross-chain interoperability.
The integration coincides with surging TVL metrics on Flare and accelerated adoption of XRPfi solutions, though the announcement was truncated before revealing specific figures.
Bitcoin Price Faces Stiff Resistance: Is Another Drop on the Horizon?
Bitcoin’s price trajectory has hit a snag, encountering formidable resistance after dipping below the $96,500 threshold. The digital asset now languishes under $95,000, with bulls struggling to regain momentum. A bearish trend line looms at $94,750 on hourly charts, signaling persistent downward pressure.
The cryptocurrency briefly touched $93,570 before a feeble recovery attempt above $94,000. market participants watch the $95,750 level closely—a decisive breach could reignite upward potential. This corrective phase follows Bitcoin’s failure to maintain footing above $97,200, underscoring the market’s current fragility.
