Kraken is considering offering shares to customers, along with digital assets and NFTs, as revealed by the company CEO Jesse Powell.
According to him, cryptocurrency brokers are evolving towards creating “super wallets” that will allow consumers to transact with all assets, including traditional ones. He has added:
“I think you will see all of these exchanges converge on a similar feature set, sort of a super wallet, an omni-product app with NFTs, spot and FX markets, maybe stock trading, and even more extreme variations of cryptocurrencies. We have already said that we are studying stocks, and I think it makes sense to do this.”
Powell has noted that competition in the crypto industry has intensified as many new players have entered the market. However, he does not believe that this will affect Kraken’s trading fees, which are the largest source of income for the company.
The head of the exchange has emphasized that many clients are “relatively insensitive” to fees, and therefore “in the end, it all comes down to UX and the ability to do what you want in one application.”
