Ambitious Move from This Crypto Exchange: Launching Stock Trading!
Kraken, one of the giants of the cryptocurrency market worldwide, plans to offer a new service to investors. This strategic move beyond the crypto world comes as Kraken adds equity trading to its portfolio.
New target of crypto exchange Kraken: Stock market
Currently, most cryptocurrency exchanges focus only on cryptocurrencies. However, Kraken decided to utilize its 12 years of experience in a new field. The plan to trade shares in the US and UK is part of the company’s expansion strategy. This will offer investors the opportunity to trade both crypto and traditional assets on a single platform.
Crypto exchange Kraken plans to expand into stock trading almost two years after Bitcoin peaked — a move that would put it head-to-head with Robinhood https://t.co/uiwTmCL2z3
— Bloomberg Crypto (@crypto) September 27, 2023
Kraken is launching this service with a new division called Kraken Securities. This department will specialize in stock trading and aims to provide a quality service to investors. The company already has the necessary permits in the UK. It also applied for a brokerage license from the Financial Industry Regulatory Authority in the USA. If everything goes as planned, this new service will be available to investors in 2024.
Competition is increasing: Kraken vs others
Its entry into the stock market will pit Kraken against new competitors. Companies like Robinhood, in particular, have a large user base by offering both crypto and stock trading. Kraken’s success in this field will depend on the quality of the service it offers and how much confidence it can give investors.
In conclusion, Kraken’s entry into the stock market shows that crypto exchanges will not be limited to digital assets only. The further integration of the coin world with traditional financial markets offers investors a wider range of options. However, in this field where competition is intense, quality service is a must to stand tall. Kraken aims to offer the best to investors by using the experience it has gained in the crypto market in the stock market.
Meanwhile, a company spokesperson told Reuters about the crypto exchange’s stock move:
While we cannot comment on rumors or speculation, we aim to expand and improve our offering to ensure our customers continue to have secure and uninterrupted access to Kraken’s full suite of products.
Crypto market busy with ETF process
In the cryptocurrency industry, 2023 has been challenging for many companies. Market fluctuations led companies to strategic changes. One of the companies’ main goals was to diversify investment opportunities. In this context, spot Bitcoin exchange-traded funds have attracted great attention. Applications to the US regulatory agency are critical for the future of the industry. In this process, it is a matter of curiosity what path companies will follow. These moves signal the coin/token industry’s further integration with traditional finance. cryptokoin.com You can take a look at the statements made today by SEC Chairman Gary Gensler about ETFs, which we reported as: in this article.
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# Bitcoin (BTC) # Ethereum (ETH) # stock # kraken # cryptocurrency exchanges # crypto market analysis