Kraken Plans to Offer Stock Trading

Kraken Plans to Offer Stock Trading

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.

Kraken CEO @jespow tells us the crypto exchange is looking to get into traditional financial services.. including stock trading📈📉Comes as Robinhood, Square, PayPal move onto their turf with crypto trading @CNBCTechCheck— Kate Rooney (@Kr00ney) November 1, 2021

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

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.