The cryptocurrency exchange Kraken
$468.46M
This change is meant to attract users who are more interested in traditional investing.
The exchange announced that users can now access over 11,000 US-listed stocks and ETFs. These can be traded without paying any commission. Kraken said the goal is to give users a single place to manage both crypto and stock investments.
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This feature, available on April 14, can be accessed by users living in several US areas, such as New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, and Washington, DC. Kraken plans to add more states in the future, with a gradual rollout across the country.
Arjun Sethi, Kraken’s co-CEO, said this update reflects how cryptocurrencies are becoming more connected with traditional finance. He explained that as more people want to trade different asset types at any time, platforms need to offer more than just crypto.
Sethi also said that adding stocks is a step toward linking real-world assets to blockchain-based systems, which could lead to a more open and flexible financial system in the future.
Kraken also plans to offer stock trading in international markets, including Europe, the United Kingdom, and Australia.
Meanwhile, Robinhood announced on March 27 that it plans to add new features for its users. What are these features? Read the full story.
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