(Reuters) -Kraken, one of the world’s largest cryptocurrency exchanges, began a phased national rollout of commission-free trading for over 11,000 U.S.-listed stocks and exchange-traded funds on Monday, marking its latest move to expand across asset classes.
Crypto firms such as Kraken are looking to expand their businesses to traditional financial spaces on the back of U.S. President Donald Trump’s promise of a more industry-friendly regulation.
Kraken users will be able to trade stocks and ETFs in some U.S. states starting Monday.
The San Francisco, California-based company also plans to expand stock trading to key international markets, including the UK, Europe and Australia.
“Expanding into equities is a natural step for us, and paves the way for the tokenization of assets. The future of trading is borderless, always on and built on crypto rails,” Kraken co-CEO Arjun Sethi said.
Kraken’s latest services will help clients manage stocks and cryptocurrencies on one platform, with the options for cross-investing.
The launch comes weeks after the company signed a $1.5 billion deal for retail futures trading platform NinjaTrader.
Financial technology firms and crypto companies are also seeking to become state or national banks to expand their businesses and gain credibility with customers.
“Crypto isn’t just evolving, it’s becoming the backbone for trading across asset classes, such as equities, commodities and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience,” Sethi said.
(Reporting by Arasu Kannagi Basil and Pritam Biswas in Bengaluru; Editing by Shreya Biswas)
