Kraken expands beyond crypto, offers U.S. stocks and ETFs trading commission-free
On Apr. 14, Kraken announced the initial rollout of commission-free trading for over 11,000 U.S.-listed stocks and ETFs in select U.S. states.
The move marks the U.S.-based crypto exchange's first venture outside the crypto domain for the first time.
The exchange said it will offer the trading services to clients in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia. It will offer services to all eligible U.S. clients in a continuous, phased, national rollout.
'As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience.' Kraken co-CEO Arjun Sethi said, 'Expanding into equities is a natural step for us, and paves the way for the tokenization of assets. The future of trading is borderless, always on, and built on crypto rails—and Kraken will continue to lead this shift.'
Kraken said it also offers fractional trading on over half of the listed assets, i.e., traders can trade less than one complete share of a highly priced stock through partial ownership.
The exchange said that Kraken Securities LLC, the new division of the company regulated by the Financial Industry Regulatory Authority (FINRA), enables users to rotate between crypto assets and stocks.
FINRA is a private corporation that acts as a self-regulatory organization for securities firms in the U.S. FINRA itself is regulated by the Securities and Exchange Commission (SEC).
Users can access crypto assets and stocks on a single platform, either the Kraken mobile app, the Kraken Pro app, or the Kraken Pro web.
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