Major Exchange opens commission-free US stock trading

TLDR

Kraken has begun offering commission-free trading in over 7,000 US-listed stocks to eligible European customers on the same platform they already use for crypto.

1. Kraken now lets EEA users trade US stocks commission-free alongside more than 600 crypto assets and 700 tokenized xStocks in one regulated account.
2. This move accelerates the convergence of crypto and traditional finance, turning a major crypto venue into a multi-asset brokerage with real-world assets on-chain.
3. Crypto users should watch eligibility rules, hidden costs like spreads and FX, and how regulators respond to tokenized equities and near 24/7 stock markets.

Deep Dive

1. What Kraken Is Launching

Kraken has launched trading in over 7,000 US-listed stocks for customers in the European Economic Area via Kraken Pro and its main mobile app.

The service is operated by Payward Europe Digital Solutions, a MiFID II regulated Cyprus investment firm, and offers commission-free trades for eligible EEA users, although other fees and restrictions still apply.

These US stocks sit alongside more than 600 crypto assets and over 700 xStocks, which are tokenized versions of equities fully backed 1:1 by underlying shares, all accessible within a single account.

2. Why It Matters For Crypto Users

Bringing conventional US equities and tokenized xStocks into the same stack as spot crypto turns Kraken from a pure exchange into a multi-asset brokerage.

For crypto traders, that means they can rotate between Bitcoin, Ethereum, tokenized S&P names, and the underlying shares without moving capital to a separate broker, tightening the link between crypto narratives and equity exposure.

Kraken claims to be the only crypto-native venue in Europe offering both traditional US shares and tokenized equivalents side by side, directly competing with platforms like Binance, Coinbase, Robinhood, Crypto.com, and Bitpanda that are also expanding into tokenized and traditional equities.

3. What To Watch Next

Although trading commissions are waived, users still face costs from bid-ask spreads, currency conversion, and potential account-level fees, so commission-free does not equal zero-cost.

Access is limited to qualified EEA customers, and US investors currently do not get this product, highlighting how regulation shapes who can use hybrid crypto-equity platforms.

More broadly, regulators are exploring frameworks for tokenized stocks and extended trading hours, while exchanges like Nasdaq push toward near-continuous equity trading, which could eventually make crypto-style 24/7 markets the norm for traditional assets too.

Conclusion

Krakens commission-free US stock trading for EEA users is a concrete step toward all-in-one platforms where crypto, tokenized assets, and traditional equities coexist in a single regulated environment.

For crypto users, it tightens the connection between on-chain markets and Wall Street, but the real edge will depend on how costs, eligibility, and evolving regulation shape access to these new multi-asset rails.