tl;dr
Kraken, a prominent crypto trading firm, has expanded into traditional finance by offering access to over 11,000 US-listed stocks and exchange-traded funds (ETFs) through its newly launched FINRA-regulated arm, Kraken Securities LLC. The service is currently available in ten US jurisdictions and aim...
Kraken, a well-known crypto trading firm, has ventured into traditional finance with the launch of Kraken Securities LLC, offering access to over 11,000 US-listed stocks and exchange-traded funds (ETFs).
The service is currently available in ten US jurisdictions and aims to expand further, including into global markets, aligning with Kraken's vision of integrating access to stocks, ETFs, crypto, stablecoins, and cash on a single platform.
This expansion demonstrates Kraken's ambition to be a major player in the convergence of traditional finance and crypto, placing it in direct competition with other platforms.
Furthermore, Kraken's co-CEO, Arjun Sethi, emphasized that blockchain infrastructure will pave the way for a borderless, continuous, and driven trading phase across asset classes.
This move follows Kraken's recent acquisition of retail futures trading platform NinjaTrader and reported plans to raise $1 billion in debt as it prepares for a potential initial public offering, solidifying its position in the convergence of traditional finance and crypto.
The entry into stock trading also positions Kraken in direct competition with platforms like Crypto.com, which introduced commission-free trading for stocks and ETFs in the US earlier this year.
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