Kraken is looking for a fight (and it has Robinhood in its sights)

TL;DR

• Kraken is looking to allow US & UK users to trade stocks and ETFs on its platform, bringing it in direct competition with Robinhood.

Full Story

What do you do if you’re a crypto exchange and your transaction revenue completely drops during a bear market?

You find a lifeboat before your crypto ship turns into the Titanic.

In the case of the Kraken exchange, it's expanding its offering to allow the trade of US listed stocks and ETFs.

The game plan?

Roll out the new trading functionality in the US and UK first through its newly formed Kraken Securities division in 2024.

Our thoughts?

First off, this sets the stage for a face-off 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 great.

Second, in an era when firms are constantly leaving the US thanks to the crippling lack of regulatory clarity, it's refreshing to see a big player in the space not only stick it out, but continue to build.

We give this two thumbs up, one chef's kiss and a "molto bene."