Kraken crypto exchange to launch fee-free securities trading in the United States

What’s new? Kraken, the leading US centralized crypto exchange (CEX), will launch fee-free trading of more than 11 000 US listed exchange-traded fund (ETF) stocks and shares. The new feature will initially be available to customers in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia, later rolling out to all eligible US customers.

Press release

What else is known? Exchange customers will be able to manage all assets in one interface via the Kraken and Kraken Pro mobile apps, or the Kraken Pro website.

In addition, fractional trading will be offered for more than half of the available securities, giving customers greater flexibility when investing in the stock market. For example, traders will be able to buy fractions of high-priced shares of publicly traded companies.

The new securities trading feature is provided by a division of the exchange called Kraken Securities LLC, which is regulated by the Financial Services Industry Regulatory Authority (FINRA).

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As Kraken co-CEO Arjun Sethi noted, cryptocurrency is becoming a mainstay for trading across asset classes such as equities, commodities and currencies, and demand for 24/7 comprehensive global access to markets is growing.

“Expanding into equities is a natural step for us, and paves the way for the tokenization of assets,” the senior executive noted.

Going forward, the exchange plans to allow UK, EU, and Australian clients to trade traditional stock market assets, as well as introduce new features to improve the trading experience.

Already now Kraken clients around the world trade more than 300 digital assets and 6 national currencies, including US, Australian, and Canadian dollars, euro, pound sterling, and Swiss franc.

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Earlier this year Kraken launched its own Layer 2 (L2) Ink network on the Ethereum blockchain, focused on decentralized applications (dApps). At the same time, Tether launched its omnichain stablecoin under the ticker USDT0 on Ink.

Late last year, an Australian court fined Kraken $5 million in a securities regulator lawsuit for violations in offering a leveraged cryptocurrency and fiat trading product.