KRAKENPAD

<ul><li>Kraken is considering an expansion into trading traditional financial assets like stocks and ETFs in the U.S. and U.K.</li><li>The initiative is led by a new division, Kraken Securities, which has already secured necessary regulatory approvals in the U.K.</li><li>Despite regulatory challenges, including a $30 million SEC fine, Kraken recently secured licenses in Spain and Ireland.</li></ul>Kraken, a leading cryptocurrency exchange based in the United States, is <a href="https://www.bloomberg.com/news/articles/2023-09-27/crypto-exchange-kraken-to-offer-trading-in-us-stocks-rivaling-robinhood-hood" rel="noopener noreferrer nofollow">reportedly</a> contemplating an expansion into the trading of traditional financial assets, including stocks and exchange-traded funds (ETFs). Unnamed sources cited by Bloomberg suggest that the exchange aims to introduce these services in both the United States and the United Kingdom by 2024. If this move comes to fruition, Kraken would become the first cryptocurrency exchange to diversify its portfolio beyond digital assets.The endeavor is reportedly being led by Kraken Securities, a newly formed division within the company. This unit has <a href="https://www.bloomberg.com/news/articles/2023-09-27/crypto-exchange-kraken-to-offer-trading-in-us-stocks-rivaling-robinhood-hood" rel="noopener noreferrer nofollow">already obtained</a> the required regulatory clearances in the U.K. and is in the process of securing similar approvals in the U.S. While Kraken declined to confirm these plans, a spokesperson for the company emphasized their ongoing efforts to &#34;power the global adoption of cryptocurrencies&#34; and to &#34;broaden and enhance&#34; their service offerings.Kraken&#39;s expansion plans are noteworthy, especially considering the regulatory challenges it has faced in the U.S., including a <a href="https://www.sec.gov/news/press-release/2023-25" rel="noopener noreferrer nofollow">$30 million fine</a> imposed by the Securities and Exchange Commission (SEC). Despite these setbacks, the exchange has been strategically growing its international presence. It recently secured a virtual asset service provider registration in Spain, enabling it to offer cryptocurrency exchange and custodial services to Spanish residents.The company&#39;s growth strategy comes at a time of increased <a href="https://cryptotale.org/kraken-ceos-home-searched-by-the-fbi-over-hacking-allegations/" rel="noopener noreferrer nofollow">regulatory scrutiny</a> and declining trading volumes in the cryptocurrency sector. Despite these headwinds, Kraken has successfully <a href="https://twitter.com/DessislavaIane2/status/1689301335760363521?s&#61;20" rel="noopener noreferrer nofollow">increased its market share</a> this year, largely at the expense of Binance, which has been grappling with its own set of regulatory issues.Read full article at<a href="https://cryptotale.org/kraken-eyes-expansion-into-stock-and-etf-trading-in-u-s-and-u-k/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Kraken Eyes Expansion into Stock and ETF Trading in U.S. and U.K

CryptoTale

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