Main navigation

Kraken Plans to Offer Stock Trading

News
Mon, 11/01/2021 - 17:48
article image
Alex Dovbnya
Kraken wants to diversify into traditional finance, according to CEO Jesse Powell
Kraken Plans to Offer Stock Trading
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Cryptocurrency exchange Kraken has plans to venture into traditional banking services, according to CEO Jesse Powell. 

During a recent interview on CNBC, Powell said that the company was on track to offer stock trading and even "small loans" in the long term: 

We are getting more into traditional services such as stock trading, banking services...maybe even small loans. 

However, Powell added that traditional finance wouldn't be a priority for the crypto trading platform. 

Related
Argentina's Regulator Considering Approving Bitcoin Futures
Founded in 2011, Kraken remains one of the largest crypto exchanges. It plans to go public at some point in 2022 or later after reaching a valuation of over $10 billion.    

In June, the Coinbase rival rolled out its stock trading app in the U.S.     

Earlier today, the San Francisco-based trading platform announced that it would be adding support for the Shiba Inu cryptocurrency, following in the footsteps of its bigger rivals.     

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.