CoinDesk Podcast Network Kraken Co-CEO: Stablecoins Are a "Far Superior" Payment Mechanism | Markets Outlook
Nov 7, 2025
David Ripley, Co-CEO of Kraken, a prominent cryptocurrency exchange, discusses the firm’s record-breaking Q3 growth and its innovative strategies. He highlights stablecoins as a far superior payment mechanism, emphasizing their role as the default settlement currency for exchanges. Ripley also explains Kraken's expansion into futures and equities and how they cater to both seasoned traders and retail consumers. Moreover, he addresses the compression of Bitcoin volatility and its implications for market dynamics.
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Stablecoins As Default Settlement Rail
- Stablecoins became the de facto settlement currency across exchanges because many users already held crypto and needed a common medium.
- That network effect made stablecoins a far superior payment mechanism within crypto rails compared with legacy options.
Kraken's Longtime Ripple Partnership
- Kraken partnered with Ripple early and listed XRP in 2013, showing long-term open-network engagement.
- The firm also listed Ripple USD, reflecting pragmatic multi-token exchange strategy.
Bringing TradFi And Crypto Together
- Kraken expanded into TradFi by offering futures and equities to serve traders who want multiple asset classes.
- The company sees tokenized equities as the next step to merge traditional and crypto markets.
