One of the largest cryptocurrency exchanges not only in the USA but also in the world. kraken, seems to be starting traditional banking and trading services.
CEO Jesse Powell According to the statements made by the company, the company is now preparing to go beyond the trading of cryptocurrencies.
Kraken Starts Traditional Trading
Speaking to CNBC, Powell emphasized that the company will offer stock trading and small loans in the long run.
Emphasizing that they are interested in banking, trading and similar services, and that they will soon blend this with the crypto money industry, Powell gave an important signal.
Powell emphasized that traditional finance will not be a top priority for Kraken and will only be used as an additional feature. Founded in 2011, the cryptocurrency exchange has recently exceeded a $10 billion valuation with the funding it received.
Kraken, which is shown as the biggest competitor of Coinbase, seems to be preparing before the IPO with the steps it has taken, even though it has not yet been offered to the public.
Kraken CEO @jespow tells us the crypto exchange is looking to get into traditional financial services.. including stock trading📈📉
Comes as Robinhood, Square, PayPal move onto their turf with crypto trading @CNBCTechCheck pic.twitter.com/GFy64527Pm
— Kate Rooney (@Kr00ney) November 1, 2021
The cryptocurrency exchange, which also announced that it will lit Shiba Inu after Coinbase, actually seems to be doing its best to attract more volume and users.
It seems like a counter move that Robinhood started trading cryptocurrencies and gained significant volume, and then put the stock trading into service by doing the opposite of crypto money exchanges.