Kraken, a San Francisco-based crypto exchange, made significant expansions to its trading services this week, offering stocks, exchange-traded funds (ETFs), and forex (FX) perpetual futures to its customers.
In an exciting announcement on Monday, Kraken revealed that customers in select states, including New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia, can now trade a whopping 11,000 US-listed stocks and ETFs. This move marks the beginning of a phased national rollout for equities trading, with plans to eventually expand to other states and international markets like the United Kingdom, Europe, and Australia.
Building on this momentum, Kraken also introduced FX perpetual futures on Kraken Derivatives later in the week. The initial offerings include EUR/USD and GBP/USD pairs, both with leverage of up to 20x. The exchange boasts a strong presence in the FX spot market, with customers trading $5.4 billion in the sector this year, particularly concentrating on the EUR/USD and GBP/USD pairs.
These expansions come at an exciting time for Kraken, as reports suggest that the exchange is preparing for an initial public offering (IPO) in the first quarter of 2026. Additionally, Kraken recently overcame regulatory challenges, with the US Securities and Exchange Commission (SEC) agreeing “in principle” to dismiss a lawsuit against the firm. The SEC had charged Kraken in 2023 for operating its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency.
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With these new offerings and developments, Kraken continues to solidify its position as a leading crypto exchange, providing innovative trading options and expanding its reach to new markets worldwide.