Last Updated on September 28, 2023 by Bitfinsider
Through a brand-new company named Kraken Securities, Kraken intends to introduce an exchange-traded fund (ETF) and stock trading platform in 2024.
Those who satisfy the requirements will have instant access to a portfolio balance that consists of ETFs, equities, and cryptocurrency assets.
The exchange wants to establish itself in the US and UK markets, but in order to trade shares and money, it needs approval from the relevant authorities.
Kraken reportedly already has a licence in the United Kingdom. A registration application has also been submitted by the exchange to the U.S. Financial Industry Regulatory Authority.
Kraken is growing outside of the United States due to laxer rules. They recently received approval to provide wallet and cryptocurrency exchange services in Spain. They now directly compete with established platforms that offer both traditional and digital assets as a result of this change.
In order to resolve SEC accusations, Kraken was compelled to stop its staking in February and paid a $30 million fine.
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.
