The exchange will initially offer stock and exchange traded fund trading in the US and UK through its new Kraken Securities division. The company already has the necessary regulatory approvals in the UK and has also applied to the Financial Industry Regulatory Authority for a broker-dealer license in the US, according to the source, who spoke on condition of anonymity.
Once stock trading on the Kraken platform receives the necessary regulatory approvals, customers will be asked to activate the new service. It is expected to launch in 2024. The profile of clients interested in trading on the TradFi market will be modified and presented in the form of a single balance sheet containing a portfolio of assets from cryptocurrencies, stocks and ETFs.
Previously, the Kraken exchange received licenses from the central banks of Spain and Ireland, which will allow the platform to provide cryptocurrency services to users from these countries.
Source: Bits
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