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 exchangeadded. “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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