The San Francisco-based crypto exchange Kraken expanded its trading services this week to stocks, exchange-traded funds (ETFs) and forex (FX) perpetual futures.
On Monday, the exchange announced that customers in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia could now trade 11,000 US-listed stocks and ETFs.
Kraken notes those states represent the start of a “phased national rollout” for equities trading, with plans to expand to other states and then international markets like the United Kingdom, Europe and Australia.
Then on Friday, the exchange announced it was launching FX perpetual futures on Kraken Derivatives. The first two offerings to launch are EUR/USD and GBP/USD, both with up to 20x leverage.
Kraken notes that it already has a sizable presence in the FX spot market, with the exchange’s customers trading $5.4 billion in that sector this year so far, including $3.5 billion concentrated in the EUR/USD and GBP/USD pairs.
Kraken’s new expansions come amid reports that the exchange is gearing up for an initial public offering (IPO) in the first quarter of 2026.
Kraken also recently cleared some regulatory turbulence, announcing last month that the U.S. Securities and Exchange Commission (SEC) had agreed “in principle” to dismiss its lawsuit against the firm. The regulator charged the exchange in 2023 with operating its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency.
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