Kraken expands beyond crypto: Launches commission-free stock trading in a challenge to Robinhood

In a direct challenge to Robinhood, crypto exchange Kraken has launched commission-free stock trading as it steps into traditional finance. Starting Monday, users in select U.S. states can trade more than 11,000 U.S.-listed stocks and ETFs—no fees, no crypto required.

“Today, we’re excited to announce the initial rollout of commission-free trading for over 11,000 U.S.-listed stocks and ETFs, bringing equities and digital assets together in one accessible trading platform,” Kraken said in a blog post on Monday.

The new stock trading feature is powered by Kraken Securities, a FINRA-regulated arm of the company focused on delivering high-quality equity trading services.

Bridging The Gap Between Traditional and Digital Finance

Kraken’s move signals a shift that many in crypto have been anticipating: the blending of digital assets with mainstream investing. The rollout starts in New Jersey, Connecticut, Wyoming, and Oklahoma, with plans to bring the service to more states and eventually markets like the UK, Europe, and Australia.

“Expanding into equities is a natural step for us, and paves the way for the tokenization of assets. The future of trading is borderless, always on and built on crypto rails,” said Kraken co-CEO Arjun Sethi.

Crypto firms have been eyeing traditional financial products for some time now, and the timing lines up with U.S. President Donald Trump’s pro-industry stance that’s given some companies more confidence to act.

Oppenheimer analyst Owen Lau framed the move as part of a larger trend. “Another step taken by Kraken to become a full-service app offering both traditional finance (TradFi) and crypto services,” he told Reuters.

Kraken is looking beyond just equities. The company recently acquired NinjaTrader, a retail futures trading platform, in a $1.5 billion deal. It’s also eyeing the payments space, and Lau believes the long-term plan involves bringing traditional asset classes onto the blockchain.

“We believe more TradFi companies will offer crypto products, and more crypto native companies will offer products for traditional asset classes,” he said.

Kraken’s ambitions reflect a larger shift in how trading is done. Sethi added, “Crypto isn’t just evolving, it’s becoming the backbone for trading across asset classes, such as equities, commodities, and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience.”

Crypto companies are also applying for state and national banking licenses as they look to gain broader legitimacy and build trust with users who still view them as outsiders.

Kraken’s plan is clear: become a one-stop platform for investors who don’t want to toggle between multiple apps to trade stocks, buy crypto, and handle payments. It’s not just about diversification—it’s about staying relevant as the lines between traditional and digital finance continue to blur.

Founded in 2011 by Jesse Powell, the San Francisco-based Kraken is the 5th-largest crypto exchange by volume, with a 24-hour volume of over half a billion dollars. It provides spot and futures trading between Bitcoin, Ethereum, and over 40 other digital assets.