Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations

In the face of tougher crypto regulatory frameworks around the world, cryptocurrency exchanges are exploring different business methods. There are signs everywhere.

Crypto Biz- Kraken offers stock trading
Source: Unsplash

Kraken is apparently expanding its scope and competing with famous applications like Robinhood, which offer both crypto and stock trading, by offering securities trading in the United States and the United Kingdom. Gemini, on the other hand, is growing its footprint in India by investing $24 million in its development centre.

Crypto Biz- Kraken offers stock trading,Crypto Biz- Kraken offers stock trading

Kraken, a cryptocurrency exchange, intends to enter the stock market : Report

Kraken’s European licences have also been expanded, and it now offers euro-to-crypto trading services in 27 European Union member states and European Economic Area countries. Exchanges are changing to integrate new era practises as crypto rules grow.

Kraken apparently intends to provide trading services for US-listed stocks and exchange-traded funds. The crypto exchange plans to start trading services in the United States and the United Kingdom in 2024 through a new company called Kraken Securities.

The exchange apparently already has licencing from the banking Industry Regulatory Authority and banking regulators in the United Kingdom to expand beyond cryptocurrencies.

Meanwhile, the Central Bank of Ireland granted Kraken an Electronic Money Institution licence, while the Bank of Spain registered it as a virtual asset service provider (VASP). Kraken’s Irish licence allows it to expand euro-to-crypto trading services to 27 European Union and European Economic Area countries. Kraken’s VASP registration in Spain enables it to provide exchange and wallet custodial services.

Gemini invests $24 million in India growth.

Gemini, a cryptocurrency exchange, is investing 2 billion rupees ($24 million) in its Indian growth. The cash will be utilised to expand the exchange’s development centre in Gurgaon, a large Delhi suburb.

The Gemini Gurgaon Development Centre has grown to over 70 employees since its inception in May, with active hiring for software engineers, technical product managers, talent acquisition, finance, support, and compliance. In favour of the expansion, Gemini acknowledged the Indian government’s “robust support framework that allows startups to thrive.” The change is part of Gemini’s “big plans for international growth this year in APAC.”

Crypto Biz- Kraken offers stock trading,Crypto Biz- Kraken offers stock trading

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