Kraken May Add Traditional Stock Trading
Main page Finance, Cryptocurrency Exchanges

US cryptocurrency exchange Kraken is considering offering shares to clients, along with digital assets and NFTs, according to Jesse Powell, the company's CEO.

He has said that crypto brokers are evolving towards the creation of "super wallets" that will allow consumers to transact in all assets, including traditional ones.

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He has added:

"I think you'll see these crypto exchanges all kind of converge on a very similar feature set that becomes a sort of super wallet, omni-product app with NFTs, spot trading, FX, maybe even stock trading, maybe even some more extreme crypto stuff. I think we've said before that [stocks] are something that we're exploring and I think makes sense to do."

Powell has highlighted that competition in the cryptocurrency sector has intensified as many new players have entered the market. However, he does not believe this will affect Kraken's trading commissions, which are the company's largest source of revenue.

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