Kraken has rolled out a new on-chain trading feature through its mobile app, enabling users in more than 100 countries—including the United States—to buy and sell nearly 2,500 Solana-based tokens without the need to set up a separate wallet. The company announced that transactions will be routed via decentralized exchange (DEX) protocols operating on the Solana network.
Unified interface brings centralized and on-chain trading together
According to Kraken’s statement, users can execute trades using US dollars or USDC, and their on-chain assets will be displayed alongside centralized exchange balances in a single, unified portfolio view. This allows users to access tokens within the Solana ecosystem directly from the main app, avoiding extra applications, wallet setups, or complicated installation steps.
Kraken revealed that this infrastructure is powered by Privy’s embedded wallet technology, a solution that lets platforms integrate wallet functions natively, so users never have to leave the main app experience.
Mini glossary: An embedded wallet is a crypto wallet that can be used directly within a platform, without installing a separate app or extension. This makes it easier for users to access on-chain services with less technical setup, including simplified management of private keys.
Many tokens issued on the Solana network are traded solely on-chain and aren’t listed by major centralized exchanges. Until now, users often had to jump through hoops—setting up new wallets, backing up seed phrases, bridging assets between networks, and managing transaction fees—all of which create technical hurdles. Kraken’s new integration seeks to eliminate much of this friction and complexity.
Kamo Asatryan, Chief Data Officer and Global Head of Consumer at Payward, emphasized that despite the advanced technology behind crypto trading, the user experience must remain simple. Asatryan noted that barriers such as bridging assets, network fees, and other technical obstacles should not deter users from accessing on-chain markets.
Transactions remain on the blockchain
Kraken clarified that, with this model, the company does not hold users’ private keys or assets. All transactions happen via third-party decentralized exchange protocols, with Kraken acting solely as an access platform. The company stated it does not control order timing, pricing, or trade execution.
Risk warning and expansion plans
Kraken also highlighted associated risks with this new offering. Tokens accessible through the DEX integration are neither reviewed nor approved by Kraken, and the platform makes it clear that making these tokens tradable does not constitute investment advice or endorsement.
The announcement further cautioned that token prices can be highly volatile and users risk losing their entire investment. Kraken specified that this service is not considered a regulated financial product.
In its statement, Kraken underscored that more than 2,500 tokens—many not yet listed on major exchanges—are now accessible, and can be traded directly within the app, with no need for additional wallets or seed phrase management.
Solana is the first network supported in Kraken’s new tap-and-trade feature for mobile. The company indicated plans to expand the service to other blockchains in the future, though specifics on which networks will be added or the timing of these expansions have not been disclosed.
This move comes as demand for DEX access among centralized exchange users is on the rise. The expansion also signals intensifying competition with peers like Coinbase, who are investing heavily in on-chain products and wallet solutions.
