Cryptocurrency

<figure> 
 <figcaption>
   Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<p>Leading cryptocurrency exchange Kraken <a href="https://www.reuters.com/markets/currencies/crypto-exchange-kraken-offer-us-listed-stocks-trading-bloomberg-news-2023-09-27/" rel="noopener noreferrer nofollow">is planning</a> to amplify its services by offering trading in U.S.-listed stocks and exchange-traded funds (ETFs), according to a Bloomberg report.&nbsp;</p> 
<p>This move will position Kraken in direct competition with renowned financial services companies like <a href="https://u.today/robinhood-shares-plunge-as-crypto-revenue-nosedives" rel="noopener noreferrer nofollow">Robinhood</a>.</p> 
<p>The new service is set to launch in 2024, and it will be initially available to customers in the U.S. and the U.K.&nbsp;</p> 
<h2 id="a-competitive-landscape">A competitive landscape&nbsp;</h2> 
<p>As r<a href="https://u.today/kraken-plans-to-offer-stock-trading" rel="noopener noreferrer nofollow">eported by U.Today</a>, Kraken has been considering launching stock trading for years.&nbsp;</p> 
<p>Breaking into the stocks and ETF trading market is no simple feat, with established companies like Robinhood, Public.com, E*TRADE, and <a href="https://u.today/charles-schwab-files-for-crypto-economy-etf" rel="noopener noreferrer nofollow">Charles Schwab</a> already dominating the space. Kraken will have to meticulously navigate the competitive and highly regulated financial environment to establish its foothold. The company is already in the process of securing the necessary regulatory permits in the U.S. and the U.K. However, the company has yet to confirm its entry into such a crowded market.&nbsp;</p> 
<h2 id="recent-developments">Recent developments&nbsp;</h2> 
<p><a href="https://u.today/kraken-exchange-welcomes-pepe" rel="noopener noreferrer nofollow">Kraken</a> has been proactive in expanding its global footprint and service offerings.&nbsp;</p> 
<p>Recently, the company has made significant strides in Spain and Ireland, securing key regulatory approvals to operate in these regions. Additionally, Kraken’s UK derivatives unit is exploring expansions to fill the vacuum left by FTX's collapse in November of the previous year.&nbsp;</p> 
<p>On the flip side, Kraken co-founder and former CEO <a href="https://u.today/breaking-ceo-of-major-crypto-exchange-to-step-down" rel="noopener noreferrer nofollow">Jesse Powell</a> is under federal investigation over claims of hacking and cyberstalking.&nbsp;</p>

Crypto Exchange Kraken to Challenge Robinhood

Table of Contents

U_Today

Other articles published on Sep 27, 2023

DeFi Mainstream Adoption: Challenges and Opportunities

ThunderCore Pumps 14% But Is This Crypto AI Project the One to Watch?

Hong Kong police recover $11M worth of assets in JPEX case: Report

Will Ethereum Recover?

Will Buyers Dominate Flow Coin’s Movements In The Year 2024?

The Arrival of Crypto-Native Staking Rates: A Monumental Innovation Set to Unleash Economic Growth

Join our free newsletter for daily crypto updates!