Source: Cointelegraph Original: "{title}"

Kraken is expanding its business beyond cryptocurrency by offering trading services for U.S. listed stocks and exchange-traded funds (ETFs), aiming to attract more traditional investors.

The thirteenth largest centralized cryptocurrency exchange in the world by trading volume, Kraken, announced the launch of commission-free trading services for 11,000 U.S. listed stocks and ETFs, striving for the integration of "stocks and digital assets on one platform."

The company announced that as of April 14, U.S. users located in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and Washington D.C. can access these stocks and ETFs through their Kraken accounts.

Kraken expands into stocks and ETFs. Source: Kraken

The exchange plans to continue opening services to customers in other U.S. states, marking the first phase of its "staged nationwide rollout."

Investor sentiment among traditional and cryptocurrency investors was significantly dampened after U.S. President Trump announced reciprocal import tariffs on April 2.

The S&P 500 index saw a market value evaporation of $5 trillion within two days, marking the largest drop in history, surpassing the $3.3 trillion drop during the initial wave of the COVID-19 pandemic in March 2020. Kraken chose to launch its traditional stock trading services more than a week after this event.

Kraken co-CEO Arjun Sethi stated that Kraken's expansion into traditional investment products demonstrates the growing practicality of cryptocurrency and blockchain technology.

"Cryptocurrency is not only evolving but is also becoming the foundation for trading across asset classes such as stocks, commodities, and currencies. With the increasing demand for 24/7 global trading, customers want a seamless one-stop trading experience."

Sethi added that the expansion into traditional stocks is a "natural step" towards the future of tokenized and blockchain-based "borderless" trading of real-world assets.

Kraken also plans to expand its stock trading products to other major international markets, including the UK, Europe, and Australia.

Related: Lomond School in Scotland accepts Bitcoin (BTC) for tuition fees, becoming the first in the UK.

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