Kraken, which is scheduled to be released next year, announced today (Friday) that it has strengthened its U.S. user-based stock offerings by introducing a stock lending facility. The platform also allows users to transfer shareholdings from other brokerage platforms to Kraken.
Other services expansions include extended stock trading hours from 4am to 8pm Monday through Friday. Additionally, users can now access market depth data.
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“These additions aim to further bridge the gap between traditional financial and digital assets, providing investors with a unified platform for managing their portfolios,” the California headquarters said.
Stock services launched in the US
Kraken, one of the oldest crypto exchanges still operating, launched its stock trading service in the US in early April. We provide stock and exchange trade funds (ETFs) trading services in approximately 12 US states.
According to the platform, it offers over 11,000 US list stocks and ETFs to its US users.
Inventory tokens for non-US customers
Kraken initially expanded beyond Crypto by adding stocks to the US, but became one of many Crypto exchanges for introducing inventory tokenization services to non-US customers.
“Expansion to stocks is not just about adding new assets, it’s about redefineing the investment climate,” the exchange added. “We provide a holistic approach to investment by integrating traditional financial products with digital assets.”
Expansion of Europe with MIFID II license
Meanwhile, Kraken is expanding its offering within Crypto. Earlier this year, they acquired Cyprus Brokers to obtain a MiFID II license and launched a perpetual Crypto contract for European users.
Crypto exchanges recently entered the prop trading space by getting a breakout. It also completed the $1.5 billion acquisition of US-based futures trading platform Ninjatrader.
The IPO is supported by $500 million in funding
Meanwhile, the crypto exchange, bound to its first public offering, recently concluded its $500 million funding round at a $15 billion valuation. Interestingly, its co-CEO, Arjun Sethi, also invested in the exchange in personal abilities.
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