Kraken Plans To Enter The World Of Stock Trading

According to a recent report, the crypto exchange aims to launch this new venture next year, as disclosed by an individual familiar with the intentions of the company.

A Kraken spokesperson stated that the exchange is continually exploring ways to support the widespread adoption of cryptocurrencies, and that while the company cannot comment on speculations or rumors, plenty of work is being done to expand and improve pre-existing offerings.

The report also indicated that the expansion into US-listed stocks and ETFs would be accessible in both the United States and the United Kingdom. Eligible customers will be able to activate this service, enabling them to access a combination of cryptocurrencies, stocks, and ETFs.

Kraken has pursued the necessary regulatory approvals in the UK and has reportedly applied for a broker-dealer license with the Financial Industry Regulatory Authority (FINRA) in the United States.

The reported expansion into US stocks coincides with Kraken wanting to extend its presence in Europe. The exchange recently obtained an EU e-money institution license via the Central Bank of Ireland and a virtual assets services provider license by the Bank of Spain, indicating its commitment to becoming a part of the thriving local fintech sectors in both countries and its broader investments in Europe.