San Francisco-based crypto exchange, Kraken, is reportedly exploring new horizons by considering a move into the stock market. According to a recent report by Bloomberg, Kraken is contemplating the addition of stocks and exchange-traded funds (ETFs) to its trading platform. This strategic move is anticipated to take place as early as 2024.
If Kraken proceeds with this plan, it will mark a significant milestone for the crypto industry, as Kraken would become the first crypto exchange to diversify its trading options beyond cryptocurrencies. The decision to branch out into the stock market is seen as a bold move that could potentially bridge the gap between traditional finance and the burgeoning world of digital assets. It remains to be seen how this expansion will impact Kraken’s user base and the broader financial ecosystem.