According to Kraken CEO Jesse Powell, the crypto exchange plans to engage in traditionalbanking services.
Powell added that in the long term, the company is looking to add equity trading and introduce "small loans." The reaction to this news in the crypto community was mixed:
Kraken CEO @jespow tells us,that the cryptocurrency exchange aims to leverage traditional financial services... including stock trading. At the same time, Robinhood, Square and PayPal are entering their territory with cryptocurrency trading.
However, Powell added that traditional finance will not become a priority for the cryptocurrency platform.
Founded in 2011, Kraken remains one of the largest cryptocurrency exchanges. In 2022, the company plans to go public, or it will happen after reaching a value of more than $ 10 billion.
Interestingly, in June, competitor Coinbase launchedits application for stock trading in the USA. Today, the San Francisco-based trading platform announced that it will follow its competitors in adding support for the Shiba Inu cryptocurrency.
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