In a blog post, Kraken, one of America’s top crypto exchanges, has announced that it is expanding its trading options to include new asset classes, equities, and exchange-traded funds (ETFs). The crypto exchange will introduce commission-free trading for more than 11,000 U.S.-listed stocks and ETFs.
The platform’s latest move aims to provide users with increased flexibility and access to a broader range of assets, further solidifying its position in the crypto market.
“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. Expanding into equities is a natural step for us, and paves the way for the tokenization of assets.” Kraken’s co-CEO, Arjun Sethi, stated.
Kraken Partners with Alpaca
According to a Bloomberg report, Kraken’s goal of opening stocks and ETFs trading to its users will be made possible through a brokerage partnership with Alpaca, a modern stock and crypto investing platform.
The partnership will allow Kraken users based in U.S. states like New Jersey, Alabama, Idaho, Iowa, Kentucky, Oklahoma, and Wyoming in the west and midwest, Connecticut, and Rhode Island in the northeast, and the District of Columbia, to trade stocks and ETFs from their Kraken account through Alpaca’s API.
According to Kraken, the platform’s opportunity to trade stocks and ETFs will be expanded to users in additional U.S. states and subsequently rolled out to major international markets, including the U.K., Europe, and Australia.
With its latest update, Kraken is poised to become a one-stop shop for traders looking to diversify their portfolios. Clients in qualified US states can now manage stocks, crypto, cash, and stablecoins in one place using either the Kraken mobile app, the Kraken Pro mobile app, or the Kraken Pro web experience.
Kraken’s Growth
Kraken seems to be making strides in the industry after successfully completing its regulatory challenge with the United States Securities and Exchange Commission (SEC). Early last month, the U.S. SEC dropped its lawsuit against the crypto exchange after making claims that the exchange operated as a securities exchange, dealer, and clearing agency without proper registration.
A few days later, Kraken secured Electronic Money Institution (EMI) approval from the Financial Conduct Authority (FCA) to offer financial services to U.K. citizens. That same month, the crypto exchange spent $1.5 billion to buy NinjaTrader, a top futures trading platform. Kraken will collaborate with stock and crypto investing platform Alpaca to roll out commission-free trading for more than 11,000 U.S.-listed stocks and ETFs.
