Kraken, a cryptocurrency exchange, plans to offer users trading services for stocks listed in the United States and exchange-traded funds, or ETFs, stated Cointelegraph.
With insights from a report by Bloomberg, published on September 27, 2023, the US-based exchange will launch its trading services in the US and United Kingdom sometime in 2024 through a division called Kraken Securities. Kraken’s expansion of investment apart from cryptocurrencies is expected to need licensed by the Financial Industry Regulatory Authority and financial regulators in the UK.
The reported move by the crypto exchange is believed to have come a year after FTX.US announced plans to launch a stock trading platform. Supposedly, Apps such as Robinhood offer both stock and crypto trading services, but largely, US-based digital asset exchanges stick with crypto and related offerings, Cointelegraph added.
Furthermore, on September 26, 2023, Kraken announced that it had received licenses in both Spain and Ireland related to offering digital asset services, Cointelegraph concluded.
(With insights from Cointelegraph)