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Kraken Expands Services to Include Stocks, ETFs, and FX Futures

Coin WorldSaturday, Apr 19, 2025 1:06 pm ET

2min read

Kraken, a prominent cryptocurrency exchange based in San Francisco, has expanded its trading services to include stocks, exchange-traded funds (ETFs), and forex (FX) perpetual futures. This move marks a significant step into traditional financial markets, aiming to provide a more comprehensive trading experience for its users.

On Monday, Kraken announced that customers in specific states, including New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia, could now trade over 11,000 US-listed stocks and ETFs. This rollout is part of a phased national expansion plan, with intentions to extend services to other states and eventually to international markets.

Following this, on Friday, Kraken introduced FX perpetual futures on its Kraken Derivatives platform. The initial offerings include EUR/USD and GBP/USD pairs, both with up to 20x leverage. This addition leverages Kraken's existing presence in the FX spot market, where customers have traded $5.4 billion this year, with a significant portion concentrated in the EUR/USD and GBP/USD pairs.

Kraken's new offerings come at a time when the exchange is reportedly preparing for an initial public offering (IPO) in the first quarter of 2026. Additionally, Kraken recently navigated regulatory challenges, with the U.S. Securities and Exchange Commission (SEC) agreeing "in principle" to dismiss its lawsuit against the firm. The SEC had charged Kraken in 2023 with operating its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency.

This expansion into traditional financial instruments is a strategic move by Kraken to cater to a broader range of investors. By offering FX perpetual futures and commission-free trading on stocks and ETFs, Kraken aims to provide a unified trading experience that includes both traditional and digital assets. This approach is expected to attract professional and institutional traders who seek a comprehensive platform for their trading needs.

The introduction of FX perpetual futures allows traders to maintain their positions indefinitely, a feature familiar to those who trade crypto futures. This flexibility is particularly appealing to traders who prefer the continuous nature of crypto futures and are now looking to apply the same strategy to traditional forex markets. By eliminating transaction fees for U.S.-listed stocks and ETFs, Kraken positions itself to compete directly with other trading platforms that offer similar multi-asset capabilities.

Kraken's move into traditional financial markets is a testament to its commitment to innovation and its ability to adapt to the evolving needs of its users. By offering FX perpetual futures and commission-free trading on stocks and ETFs, Kraken is positioning itself as a leading player in the financial markets, providing traders with the tools and flexibility they need to succeed in an ever-changing landscape. This strategic expansion is part of Kraken's broader goal to integrate traditional financial instruments with its crypto-native platform, catering to both professional and institutional traders who seek a unified trading experience.

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