Kraken, which is expected to go public next year, announced
today (Friday) that it has enhanced its equities offering for its US user base
by introducing stock lending features. The platform now also allows its users
to transfer their stock holdings from other brokerage platforms to Kraken.
Bridging Finance and Digital Assets
Other service enhancements include extended equities trading
hours, from 4:00 a.m. ET to 8:00 p.m. ET, Monday through Friday. It now also
allows its users to access market depth data.
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“These additions aim to further bridge the gap between
traditional finance and digital assets, offering investors a unified platform
to manage their portfolios,” the California-headquartered company noted.
Equities Services Launched in the US
Kraken, one of the oldest crypto exchanges still in
operation, launched equities trading services in the US earlier in April. It
offers stocks and exchange-traded funds (ETFs) trading services in about a
dozen US states.
According to the platform, it offers more than 11,000
US-listed stocks and ETFs to its users in the US.
Stock Tokenization for Non-US Customers
While Kraken initially expanded beyond crypto by adding
equities in the US, it became one of the many crypto exchanges to introduce
stock tokenization services for its non-US customers.
“Our expansion into equities is about more than just adding
new assets, it’s about redefining the investment landscape,” the exchange
added. “By integrating traditional financial instruments with digital assets,
we offer a holistic approach to investing.”
European Expansion with MiFID II License
Meanwhile, Kraken is also expanding its offerings within
crypto. It obtained a MiFID II license by acquiring a Cyprus broker earlier
this year and then launched crypto perpetual contracts with it for its European
users.
The crypto exchange even entered into the prop trading space
recently by acquiring Breakout. It also completed the $1.5 billion acquisition
of NinjaTrader, a US-based futures trading platform.
IPO Plans Backed by $500 Million Funding
Meanwhile, the initial public offering-bound crypto exchange
recently closed a $500 million funding round at a valuation of $15 billion.
Interestingly, its co-CEO, Arjun Sethi, also invested in the exchange in a
personal capacity.
This article was written by Arnab Shome at www.financemagnates.com.
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