Robinhood has launched tokenized stock products in Europe using a derivative model that tracks underlying assets, with plans to expand access to additional asset classes including private equity. Kerbrat said the goal is broader participation in markets that have historically been limited to accredited investors.

“I think it is really important to give them the choice to be able to invest in it before it goes public,” he said, referring to private companies.

Kerbrat said adoption will depend on offering new functionality rather than replicating existing brokerage services, with lending, collateralization and continuous trading cited as areas of development.

Kraken, which trails platforms like OKX, Bybit and Coinbase (COIN) in spot trading volumes but remains a major player in the crypto derivatives market. is a U.S.-based crypto exchange where users can buy, sell, and trade digital assets like bitcoin and ether using fiat or crypto. It has expanded into services such as derivatives, staking, and custody, positioning itself as a more full-service trading platform beyond a basic retail app.

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Payward and Kraken co-CEO Arjun Sethi says the exchange is “80% ready” to go public, as a new partnership with MoneyGram aims to expand access to digital assets by solving last-mile cash conversion.

What to know:

  • Kraken is still preparing for an IPO, with co-CEO Arjun Sethi saying the company is “80% ready.”
  • MoneyGram and Kraken announced a partnership to enable easier conversion between crypto and cash globally.
  • Both firms see stablecoins and digital assets lowering costs and expanding access, especially in underserved markets.

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