Crypto Exchange Kraken has started rolling out commission-free trading for over 11,000 US listed stocks and ETFs. The service is now available for users in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia, who can trade stocks and ETFs directly within their Kraken account.
Seamless Trading of Stocks, Crypto, and More
Kraken users can now manage stocks, crypto, cash and stablecoins all at one place through the Kraken mobile app, Kraken Pro app or web platform. Besides, the platform also supports fractional trading on many assets which enables users to buy just a fraction of expensive stocks, instead of buying a whole share, which makes investing more easier and affordable for users.
Nate Geraci, the President of ETF Store took to X to share the update with his followers.
Kraken Launches Stock Trading via Kraken Securities
The move marks a major step into traditional finance (TradFi) as Kraken expands beyond crypto for the first time. It now allows clients to easily buy stocks with US dollars. Kraken now lets users reinvest instantly, trade fractional shares, and manage stocks and crypto in one place.
This move is powered by its new regulated division, Kraken Securities LLC, which is a new FINRA-regulated division of the company, making it easy to switch between crypto and stocks, all in one platform.
“Crypto isn’t just evolving, it’s becoming the backbone for trading across asset classes, such as equities, commodities, and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience,” Arjun Sethi, Kraken’s co-CEO remarked.
Kraken To Plan Global Rollout Soon
He added further that expanding into equities is a natural next step which brings them close to turning real-world assets into tokens on the blockchain. He believes that the future of trading will be ‘borderless’, 24/7, and based on crypto technology, where Kraken aims to lead the way.
Moving further, Kraken also plans to expand traditional securities trading to the UK, Europe and Australia, while also introducing new features to enhance user’s trading experience.
Kraken and Mastercard Team Up to Make Crypto Spending Easy
Recently, Kraken and Mastercard joined forces to make spending crypto easier in the EU. Now, users can pay with Bitcoin and other coins at over 150 million places at Mastercard-suppoted locations. This is a big step towards using crypto for everyday purchases.
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