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Kraken Unlocks 7,000+ US Stocks for EEA Users, Bringing Crypto and Equities Together

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Key Takeaways:

  • Kraken added 7,000+ stocks from the USA to eligible EEA customers.
  • A user can trade stocks or 700+ xStocks and 600+ crypto currencies through a single account.
  • Total transaction volume for the xStocks is in excess of $38 billion.

Kraken has now extended its crypto offering to the traditional U.S. equity market, providing eligible customers throughout the EEA with thousands of U.S.-listed stocks. The rollout also places conventional shares and blockchain-based xStocks side by side within the same regulated platform.

7,000+ U.S. Stocks Arrive on Kraken

This week, eligible EEA customers will gain access to over 7,000 U.S.-listed stocks via Kraken Pro on desktop and mobile markets and its mobile app. This service is run under MiFID II authorisation by Payward Europe Digital Solutions (CY) Limited, a branch of Kraken’s European investment services division.

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According to Kraken, customers who meet its eligibility requirements can trade all of the new U.S. stocks without fees, under certain conditions. The company has already recognized its service as a box to alleviate the necessity of separating traders’ holdings into stock and crypto exchanges.

The new holding is paired with over 600 other crypto assets, so that, as a whole, its punishment can also be held in the same account.

Read More: Kraken Opens SpaceX IPO Access in 110+ Countries With 24/7 Tokenized Trading

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Traditional Shares Meet Tokenized Equities

One of the key components of Kraken’s strategy is their capacity to hold traditional U.S. stocks that are accompanied by 700+ xStocks, which are tokenized stocks.

xStocks Add an Onchain Route

According to Kraken, xStocks have been fully backed by their underlying assets and are backed 1:1. In contrast to traditional shares, the tokenized shares can be moved to self-custody wallets and be able to be incorporated with onchain applications.

These can also be exchangeable outside the public market hours, creating a settlement and access schema of tokens that is different from the conventional share settlement.

As of today, the aggregate transaction volume in xSTOCKs exceeds $38 billion since the introduction, the company said. Those numbers illustrate the increasing importance of the tokenized equities aspect of Kraken’s overall multi-asset approach.

The two formats allow investors to gain access through different methods to the same companies they are investing in. Traditional shares are held inside typical trading frameworks, and xStocks are swapped on the blockchain tracks.

Kraken Pushes Further Into Multi-Asset Trading

The new launch shows the exchange’s commitment to making crypto, stocks and tokenised assets all available in a single trading environment instead of having customers switch between different exchanges, Kraken said.

The exchange also aims to widen the fully integrated offering of common stocks into additional markets in the coming months. However, eligibility requirements and the legal framework for conducting investment services in Europe from the end of kraken do apply to access to the EEA rollout.

Read More: Tether Clears First-Ever KPMG Audit, Revealing a $6.8B Cushion for Crypto Markets

The post Kraken Unlocks 7,000+ US Stocks for EEA Users, Bringing Crypto and Equities Together appeared first on CryptoNinjas.


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