Key Points:
- Kraken now allows selected users to trade U.S. stocks and ETFs without commissions, integrated with their cryptocurrency trading.
- The initial launch is in 10 states, with plans for broader availability in the U.S. and internationally, including Europe, the U.K., and Australia.
- This strategy brings Kraken into direct competition with Robinhood while it also aims for asset tokenization.
Crypto exchange Kraken has recently introduced commission-free trading for trading U.S. listed stocks and exchange-traded funds (ETFs). This allows users to access traditional financial markets through a single platform, which includes cryptocurrency trading, positioning Kraken to compete more closely with platforms such as Robinhood (HOOD).
The initiative will start in 10 U.S. regions — including New Jersey, Connecticut, and Alabama — and is designed to connect traditional asset trading with cryptocurrencies via user accounts accessible through mobile apps, Kraken Pro, or web interfaces.
“This reflects the evolution of crypto as a crucial component for trading various asset types, including equities, commodities, and currencies,” stated Arjun Sethi, the co-CEO of Kraken. “As the need for constant global access increases, clients desire a unified trading platform.”
Sethi further noted, “Expanding into equities is a logical progression for our business strategy and will facilitate asset tokenization.”
This endeavor makes Kraken unique among crypto-native companies, allowing for the exchange of conventional investments alongside digital currencies under a singular account.
The new trading capabilities are facilitated through Kraken Securities, a regulated entity focused on stocks. By merging traditional finance with cryptocurrency services, Kraken plans to more effectively challenge competitors like Robinhood and Public, which already service multi-asset investors.
