Kraken Expands Stocks via Alpaca Partnership

Kraken, a leading cryptocurrency exchange, has initiated a phased rollout of commission-free trading for over 11,000 U.S.-listed stocks and ETFs, starting in select U.S. states such as New Jersey and Connecticut. This strategic move marks Kraken's first significant expansion into traditional finance, allowing users to manage both equities and cryptocurrencies from a single platform using its mobile and web applications. The initiative, facilitated through a partnership with broker-dealer Alpaca, includes fractional trading, enabling partial ownership of high-priced stocks. The service will gradually expand nationwide and internationally, targeting markets in the U.K., Europe, and Australia. Kraken co-CEO Arjun Sethi emphasizes this as a step towards the tokenization of assets, positioning the company to compete with platforms like Robinhood. This development follows Kraken's recent acquisition of NinjaTrader, signaling its intent to broaden its financial service offerings.