Kraken to launch stock and ETF trading services in 2024

Kraken reportedly plans to add trading services for US-listed stocks and exchange-traded funds in 2024.
Dot
March 8, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Photo Source: Kraken (Youtube)

Crypto exchange Kraken reportedly plans to add trading services for US-listed stocks and exchange-traded funds (ETFs) in 2024.

According to a recent Bloomberg report, a new division named Kraken Securities will be responsible for building the equity trading services. Citing an unnamed source, the report claimed that Kraken will initially launch its new investment services to clients based in the UK and US. Once Kraken finishes integrating support for US-listed stocks and ETFs, users will be able to view all their holdings, including crypto assets, as a single balance.    

The source cited that Kraken has applied for a broker-dealer license with the Financial Industry Regulatory Authority in the US. Moreover, the firm has already secured the necessary regulatory permits from the UK officials. 



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It is worth noting that Kraken is not the first crypto firm to venture into stock trading. In 2022, FTX announced its plans to deploy FTX Stocks, an equity trading platform that also offered exchange facilities for USD Coin (USDC) and other stablecoins. Unfortunately, the platform never saw the light of day as the FTX Group filed for bankruptcy in November 2022.

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Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Kraken to launch stock and ETF trading services in 2024

HomeCrypto exchanges
Contents
Photo Source: Kraken (Youtube)

Crypto exchange Kraken reportedly plans to add trading services for US-listed stocks and exchange-traded funds (ETFs) in 2024.

According to a recent Bloomberg report, a new division named Kraken Securities will be responsible for building the equity trading services. Citing an unnamed source, the report claimed that Kraken will initially launch its new investment services to clients based in the UK and US. Once Kraken finishes integrating support for US-listed stocks and ETFs, users will be able to view all their holdings, including crypto assets, as a single balance.    

The source cited that Kraken has applied for a broker-dealer license with the Financial Industry Regulatory Authority in the US. Moreover, the firm has already secured the necessary regulatory permits from the UK officials. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


It is worth noting that Kraken is not the first crypto firm to venture into stock trading. In 2022, FTX announced its plans to deploy FTX Stocks, an equity trading platform that also offered exchange facilities for USD Coin (USDC) and other stablecoins. Unfortunately, the platform never saw the light of day as the FTX Group filed for bankruptcy in November 2022.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

Crypto exchange Kraken reportedly plans to add trading services for US-listed stocks and exchange-traded funds (ETFs) in 2024.

According to a recent Bloomberg report, a new division named Kraken Securities will be responsible for building the equity trading services. Citing an unnamed source, the report claimed that Kraken will initially launch its new investment services to clients based in the UK and US. Once Kraken finishes integrating support for US-listed stocks and ETFs, users will be able to view all their holdings, including crypto assets, as a single balance.    

The source cited that Kraken has applied for a broker-dealer license with the Financial Industry Regulatory Authority in the US. Moreover, the firm has already secured the necessary regulatory permits from the UK officials. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


It is worth noting that Kraken is not the first crypto firm to venture into stock trading. In 2022, FTX announced its plans to deploy FTX Stocks, an equity trading platform that also offered exchange facilities for USD Coin (USDC) and other stablecoins. Unfortunately, the platform never saw the light of day as the FTX Group filed for bankruptcy in November 2022.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande