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Kraken, the cryptocurrency exchange, has introduced a new service in the United States that enables commission-free trading of stocks and exchange-traded funds. This initiative broadens the company’s offerings, providing access not only to crypto assets but also to traditional financial markets.
Stocks and Cryptocurrency
Kraken now allows its users to trade stocks directly on its platform, which was previously limited to cryptocurrency services. Customers can engage in trading through the mobile app, professional interface, or website, facilitating easy transactions. With this move, the company aims to position itself closer to competitors that operate across multiple asset classes.
The service will initially launch in ten U.S. states, including New Jersey, Connecticut, and Alabama. Future plans include expanding the offering nationwide and into international markets such as the United Kingdom, Europe, and Australia.
Kraken’s Statement
Arjun Sethi, Vice President of Kraken, stated, “Cryptocurrency is not only evolving but also forming the foundation for trading across various asset classes such as stocks, commodities, and currencies. In line with the demand for 24/7 global access, our customers are seeking a seamless experience through a single account.”
This service is provided through Kraken Securities, which is regulated by FINRA. This structure aims to create a comprehensive service model that combines cryptocurrency transactions with traditional financial instruments, potentially paving the way for the tokenization of assets.
The innovative service bridges the gap between cryptocurrency and traditional finance, allowing users to access various asset classes through a single account.
The launch of this service aligns with the ambitions of cryptocurrency firms seeking to go public on U.S. exchanges. Companies like Coinbase have already entered the market, while giants like Circle are continuing their public offering efforts.
The introduction of this new application is expected to provide investors with more options and flexibility, setting an example for integration within the sector between digital and traditional finance.
