Crypto exchange Kraken to offer stock trading

According to Bloomberg, Kraken plans to offer stock trading and exchange-traded funds next year. The new service will initially be available to US and in United Kingdom.

The pioneering crypto exchange Kraken could soon expand its offering with stock market trading andETFsreported on Wednesday Bloombergciting sources close to the matter.

According to the news agency, the service will be offered through its subsidiary Kraken Securities initially available in the US and UK. The San Francisco-based platform, founded in 2011, already holds the required licenses in the UK and is reportedly seeking authorization as a broker-dealer in the US from US regulator Finra.

Questioned on the subject, Kraken neither confirmed nor denied the information, stating only that the company was “always” looking to improve its offering in order to accelerate crypto adoption worldwide.

Several apps, including Bitpanda, eToro and Revolut, already offer their customers the chance to invest in cryptocurrency alongside stock market shares. In the US, Robinhood is probably the biggest player to combine these two services.

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Kraken, which is working on opening its own bank, is also now looking into the derivatives market with its Crypto Facilities unit.

Earlier this year, the exchange was prosecuted by the US federal agency SEC for failing to register its staking service. It has recently obtained an e-money license in Ireland and crypto registration in Spain.

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