TL; DR
Full story
What do you do if you’re a crypto exchange and your transaction revenue drops completely during a bear market?
You’ll find a lifeboat before your crypto ship turns into the Titanic.
In the case of the Kraken exchange, it is expanding its offering to enable trading of US listed stocks and ETFs.
The game plan?
Roll out the new trading functionality first in the US and UK through the newly formed Kraken Securities division in 2024.
Our thoughts?
First, this sets the stage for a showdown with Robinhood, the OG stock and crypto trading platform – and honestly, we’re here for the competition.
Remember how Robinhood handled the whole GameStop saga? Not good.
Second, it’s refreshing to see that in an era where companies are continually leaving the US due to the crippling lack of regulatory clarity, a major player in this space is not just holding its own, but continuing to build.
We give this two thumbs up, one kiss from the chef and a ‘molto bene’.