Latest news with #ArjunSethi
Yahoo
22-05-2025
- Business
- Yahoo
Wall Street Goes 24/7? Kraken's Bold Plan to Tokenize Tesla and Apple Shocks Markets
Kraken is gearing up to change how global investors access U.S. stocksby putting them on the blockchain. The U.S.-based crypto exchange will soon launch "xStocks," tokenized versions of over 50 popular equities and ETFs, including Tesla (NASDAQ:TSLA), Apple (NASDAQ:AAPL), Nvidia (NASDAQ:NVDA), and SPDR S&P 500 (SPY). These tokens will trade 24/7 on the Solana blockchain and initially be available to users in Europe, Latin America, Asia, and Africaexcluding the U.S. Kraken says this model could streamline access for investors who've long dealt with clunky settlement systems and high fees through local brokerages. Each xStock will be backed 1:1 by the underlying asset, held and managed by Kraken's partner, Backed Finance. The tokens are redeemable for cash value, and the company hopes this will help keep pricing aligned with real-time market movements. Kraken co-CEO Arjun Sethi noted that traditional cross-border investing is still burdened by friction, and this could be a more cost-effective workaround. If it works, tokenized stocks may not just give international investors easier accessthey might also open up new use cases like pledging tokenized Tesla shares as collateral for DeFi strategies. It's not the first time someone's tried this. Binance launched a similar product in 2021, only to shut it down after regulatory pushback. Kraken is taking a different route, actively engaging with regulators across various countries. The timing also aligns with broader conversations in Washington around crypto and tokenization. With firms like BlackRock and Robinhood now backing similar ideas, Kraken's launch could be more than a new productit might be a preview of where traditional finance is headed. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
22-05-2025
- Business
- Bloomberg
Kraken Tokenizes Apple, Nvidia, Tesla Shares
Crypto exchange Kraken will allow customers outside the US to buy Apple, Nvidia, and Tesla shares as digital tokens, giving them 24-hour access to trading. Arjun Sethi, Kraken co-CEO, explains the move on "Bloomberg Technology." (Source: Bloomberg)
Arabian Post
22-05-2025
- Business
- Arabian Post
Kraken Unveils 24/7 Tokenized Stock Trading for Global Clients
Cryptocurrency exchange Kraken has announced the launch of tokenized versions of over 50 U.S.-listed stocks and exchange-traded funds , including Apple, Tesla, and Nvidia, for non-U.S. customers. These digital assets, branded as 'xStocks,' will be available for trading around the clock via the Solana blockchain, enabling investors in Europe, Latin America, Africa, and Asia to access U.S. equities beyond traditional market hours. Each xStock token is backed by actual shares held by Kraken's partner, Backed Finance, ensuring that the tokens' values closely mirror their underlying securities. The tokens are redeemable for the cash equivalent of the corresponding stock or ETF, providing a seamless bridge between digital and traditional financial markets. Kraken's co-CEO, Arjun Sethi, emphasized the platform's commitment to reducing barriers for international investors. 'Overseas investors can currently buy U.S. stocks through local brokerages, but it typically involves very high fees and slow settlement times,' Sethi noted. 'There's a lot of friction.' By leveraging blockchain technology, Kraken aims to offer a more efficient and cost-effective alternative. ADVERTISEMENT The introduction of xStocks also allows for greater flexibility in asset management. Investors can store these tokenized equities in digital wallets, trade them across various crypto platforms, and even use them as collateral for crypto trading strategies. This integration of traditional assets into the crypto ecosystem reflects a growing trend toward the tokenization of financial instruments. Kraken's move follows earlier attempts by other exchanges to offer tokenized stocks. In 2021, Binance introduced similar products but discontinued them after regulatory challenges. Learning from such precedents, Kraken is actively collaborating with regulators to ensure compliance across different jurisdictions. A company spokeswoman stated that Kraken is 'actively working with various regulators' to navigate the complex international regulatory landscape. The broader financial industry has shown increasing interest in the potential of tokenization. The U.S. Securities and Exchange Commission hosted a roundtable discussion on the subject earlier this month, and major firms like BlackRock and Robinhood have expressed support for the tokenization of securities. Sethi predicts that tokenized equities could surpass stablecoins in market size, highlighting their transparency, speed, and global accessibility. Kraken's expansion into tokenized equities is part of a larger strategy to bridge traditional finance and the crypto world. The company has also launched commission-free trading for over 11,000 U.S.-listed stocks and ETFs through its Kraken Securities platform, initially available in select U.S. states with plans for broader rollout. This integrated approach allows users to manage cryptocurrencies, equities, ETFs, stablecoins, and fiat currencies within a single platform.
Yahoo
15-04-2025
- Business
- Yahoo
Kraken Now Offers U.S. Stock, ETF Trading as it Preps for Possible IPO
Crypto exchange Kraken has begun offering commission-free trading for U.S.-listed stocks and exchange-traded funds (ETFs), opening access to traditional financial markets from within the same platform it uses for cryptocurrencies and positioning itself to compete more directly with platforms like Robinhood (HOOD). The move expands Kraken's business as a growing list of U.S. crypto companies aiming to go public on U.S. exchanges — joining the likes of Coinbase (COIN), Marathon Digital (MARA), and Bitdeer (BTDR), among others. The Kraken stock trading rollout begins in 10 U.S. jurisdictions including New Jersey, Connecticut and Alabama, with plans to expand access across the country and to international markets such as the U.K., Europe and Australia. Clients in these states can now buy and sell equities directly through their Kraken account using the mobile app, Kraken Pro or web interface. 'Crypto isn't just evolving, it's becoming the backbone for trading across asset classes, such as equities, commodities and currencies," said Kraken's co-CEO Arjun Sethi in a statement. "As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience.' 'Expanding into equities is a natural step for us, and paves the way for the tokenization of assets,' he continued. This move makes Kraken one of the few crypto-native companies to offer traditional asset trading alongside digital assets under a single account. The new product is offered through Kraken Securities, a FINRA-regulated entity focused on equities. By consolidating crypto and traditional finance tools, Kraken is positioning itself to compete more directly with platforms like Robinhood and Public that already cater to multi-asset investors. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
15-04-2025
- Business
- Yahoo
Crypto Exchange Kraken Now Offers Stock and ETF Trading
Cryptocurrency exchange Kraken has expanded beyond digital assets to offer U.S. stock and ETF trading, as the company seeks to venture outside of crypto markets. According to the company's Monday announcement, Kraken has begun rolling out commission-free trading for more than 11,000 listed stocks and ETFs to clients in select states, including New Jersey, Connecticut, Rhode Island and seven others. The company plans to eventually make the offering available to all eligible U.S. clients before expanding to Europe and Australia. This push into traditional markets shows how crypto exchanges are now directly challenging Wall Street firms, as the boundaries between digital assets and conventional investments continue to fade. The new offering may help clients to manage all their investments in one place. "Crypto isn't just evolving, it's becoming the backbone for trading across asset classes, such as equities, commodities, and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience," Arjun Sethi, Kraken's co-CEO, said in the press release. Kraken's expansion follows a broader trend among U.S. crypto exchanges looking to diversify their offerings and compete with established platforms like Nasdaq and Robinhood. The new service allows Kraken users to manage stocks, crypto, cash and stablecoins in one place. The company will offer fractional trading on more than half of the newly listed assets, enabling traders to purchase portions of high-priced stocks. As Sethi explained in the company's blog, "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." The equity trading service is powered by Kraken Securities, a FINRA-regulated division of the company dedicated to delivering equity trading services, according to Kraken's blog post. The timing aligns with shifting regulatory dynamics for crypto companies. Kraken recently announced a resolution with securities regulators, with the company stating in March that the Securities and Exchange Commission had agreed in principle to drop its lawsuit without penalties or business model changes. The stock trading expansion follows Kraken's business diversification efforts, which included its purchase of futures trading platform NinjaTrader for $1.5 billion last month, according to a company | © Copyright 2025 All rights reserved Sign in to access your portfolio
