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Kraken just launched onchain token trading natively inside its existing app, giving eligible users in the U.S. and +100 countries access to roughly 2,500 Solana-based tokens, including early-stage assets not yet listed on CEXes.
What's the Scoop?
- How It Works: The feature is powered by Privy's embedded wallet technology and
Solana DEX protocols running under the hood, meaning trades settle onchain but users never have to touch a seed phrase, manage gas, or leave the app. Onchain holdings show up in the same portfolio view as a user's regular Kraken assets, with trading denominated in USD or USDC. - Who It's For: Kraken is pitching this at two audiences: crypto newcomers who've been put off by the technical overhead of DeFi, and experienced users who want a single place to manage both CEX and onchain positions. The self-custody angle is worth noting, as Kraken holds neither the assets nor the private keys, and tokens available through the DEX integration haven't been vetted or approved by Kraken itself.
- What's Next: The launch covers Solana protocols only for now, with support for more chains planned down the line.
