Kraken Adds U.S. Stocks in Europe

Kraken now offers customers in the EEA direct trading in more than 7,000 U.S. stocks, alongside its existing tokenized xStocks. The move puts the exchange directly up against brokers like Interactive Brokers and eToro.

Key Takeaways

• Kraken offers customers in the European Economic Area direct trading in more than 7,000 U.S. stocks.
• The exchange is adding these stocks alongside tokenized versions of some of the same shares on one regulated platform.
• With this expansion, Kraken is competing directly with brokers and other platforms that offer stocks, derivatives, or tokenized securities.

Kraken is expanding its offering in Europe with direct trading in more than 7,000 U.S. stocks for customers in the European Economic Area. With that move, the crypto exchange is taking the next step in blurring the line between traditional markets and crypto, while rivals like Coinbase, Robinhood, and Crypto.com have already been experimenting with tokenized stocks or broader securities offerings for some time.

More Than Tokenized Stocks

The new service comes on top of the tokenized versions of U.S. stocks that Kraken already offered in Europe. According to the exchange, it is now the only crypto-native player offering both traditional stocks and tokenized versions of some of the same shares on one regulated platform.

Mark Greenberg, chief commercial officer of Payward, Kraken's parent company, said the launch removes the artificial split between traditional and tokenized forms of the same asset. According to him, customers can choose how they access the same underlying exposure without moving capital or switching platforms.

Competition With Brokers

With this expansion, Kraken is now going head-to-head with established names like Interactive Brokers and eToro, along with other crypto platforms that already offer tokenized stocks. It fits into a broader trend in which investing platforms are trying to bring more asset classes under one roof, from crypto to stocks and ETFs.

That trend is not just showing up at crypto companies. Coinbase already got approval in the United Kingdom to offer stocks and derivatives alongside crypto, while its U.S. customers already have access to stock and ETF trading. Bitpanda also offers regular U.S. stocks in Europe instead of tokenized versions.

Why This Matters

For European crypto users, this move shows how quickly the line between crypto and traditional finance is blurring. At the same time, the legal and operational difference between a tokenized claim and a regular stock remains important, especially because regulators like ESMA have previously warned that retail investors do not always fully understand those differences. Kraken's xStocks are also not available in all markets, which underscores that regulation still determines where products like these can and cannot be offered.