Crypto Exchange Kraken has begun to offer operations without commissions for shares that quote in the United States and funds quoted in the stock market (ETF), opening access to traditional financial markets from the same platform that it uses for cryptocurrencies and positioning itself to compete more directly with platforms such as Robinhood (Hood).
The measure expands Kraken’s business as a growing list of US cryptographic companies with the objective of making US exchanges public, joining people like Coinbase (Coin), Digital Marathon (Mara) and Bitdeer (BTDR), among others.
The launch of the Kraken shares trade begins in 10 US jurisdictions, including New Jersey, Connecticut and Alabama, with plans to expand access throughout the country and international markets such as the United Kingdom, Europe and Australia. Customers in these states can now buy and sell shares directly through their Kraken account using the mobile application, Kraken Pro or web interface.
“Cryptography not only evolves, it is becoming the backbone for trade between assets classes, such as actions, products and coins,” said Kraken’s co-zoo, Arjun Sethi, in a statement. “As the demand for global access 24/7 grows, customers want a perfect commercial experience and all in one.”
“Expanding to the actions is a natural step for us, and it paves the way for the tokenization of assets,” he continued.
This movement makes Kraken one of the few cryptographic companies that offer traditional asset trade along with digital assets in a single account.
The new product is offered through Kraken Securities, an entity regulated by Actions focused on actions. By consolidating cryptographic and traditional financial tools, Kraken is positioning to compete more directly with platforms such as Robinhood and Public that already serve multiple asset investors.
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