Crypto Exchange Kraken Plans to Offer Trading in US-Listed Stocks

Kraken targeting 2024 launch for stock trading: person
Move comes almost two years after Bitcoin’s $69,000 peak

Founded in 2011, Kraken is one of the oldest names in crypto, and it has survived several bear markets — including the one last year that saw companies from FTX to Celsius Network implode. — Founded in 2011, Kraken is one of the oldest names in crypto, and it has survived several bear markets — including the one last year that saw companies from FTX to Celsius Network implode.
Photographer: Tiffany Hagler-Geard/Bloomberg

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By Anna Irrera and Olga Kharif

September 27, 2023 at 5:21 PM UTC

This article is for subscribers only.

Kraken plans to offer trading in US-listed stocks and exchange-traded funds, marking the 12-year-old company’s first foray outside its cryptocurrency roots.

Kraken will initially offer trading in the US and UK through a service built by a new division called Kraken Securities, according to a person with knowledge of the matter who asked not to be named discussing private information. It already holds the required regulatory permits in the UK and has applied with the Financial Industry Regulatory Authority for a broker-dealer license in the US, the person said.