Hassan Maishera
TL;DR
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Kraken has unveiled a phased rollout for US stocks and ETF trading.
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Users will now enjoy commission-free trading on 11,000+ U.S.-listed stocks and ETFs.
Kraken Launches Equities Trading
Kraken, one of the leading cryptocurrency exchanges in the world, has added U.S. equities trading to its mobile and web platforms. This latest development will enable its customers in the United States to manage crypto, stocks, and Wall Street funds from a single account, similar to brokerages like Robinhood.
The trading feature, executed in collaboration with licensed broker-dealer Alpaca, enables customers to trade over 11,000 U.S.-listed stocks and exchange-traded funds commission-free.
According to Kraken, over 50% of the new offerings will include fractional investment, meaning buyers can purchase less than one whole share. The company added that,
“U.S.-based clients in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia can trade stocks and ETFs directly within their Kraken account. This marks the beginning of a phased national rollout, with plans to continuously expand access to clients in additional U.S. states in the near future.”
Kraken is already looking to expand to markets in the UK, Europe, and Australia. Arjun Sethi, Kraken’s co-CEO, stated that the company is moving towards providing access to other traditional financial assets.
“Expanding into equities is a natural step for us and paves the way for the tokenization of assets. Crypto isn’t just evolving; it’s becoming the backbone for trading across asset classes, such as equities, commodities, and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience,” Sethi added.
This latest development comes a month after it
Last month, Kraken hinted at a pivot into U.S. equities when it announced plans to acquire CFTC-registered NinjaTrader for $1.5 billion in the largest-ever crypto and tradfi deal yet.
