On April 14th, Kraken announced the first rollout of fee-free transactions for more than 11,000 US list stocks and ETFs in some US states.
The move marks the first venture of US-based Crypto Exchange outside the Crypto domain.
The exchange said it will provide trading services to clients in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia. We serve all eligible US clients with a continuous, gradual nationwide deployment.
“As the demand for 24/7 global access grows, our clients want a seamless, all-in-one trading experience.” Kraken Ceo-Ceo Arjun Sethi said, “Expansion to stocks is a natural step for us, paving the way for tokenization of assets. The future of trading is always boundless and based on crypto rails, and Kraken will continue to lead this shift.”
Kraken said it offers small transactions on more than half of its listed assets. This means that traders can trade less than one full share of high-value stock through partial ownership.
The exchange said Kraken Securities LLC, the new division of the company regulated by the Financial Industry Regulatory Authority (FINRA), will allow users to rotate between crypto assets and stocks.
FINRA is a private company acting as a self-regulatory organization for the US FINRA itself, and is regulated by the Securities and Exchange Commission (SEC).
Users can access Crypto assets and stocks on a single platform, either through the Kraken Mobile app, the Kraken Pro app, or the Kraken Pro Web.