PANews, July 10 news. According to The Block, the market share of cryptocurrency exchange Kraken has risen from 19% at the beginning of the year to 29%, with an average monthly trading volume stabilizing above $20 billion over the past five months. Recently, the exchange has continuously launched several innovative products, including the Solana-based stock tokenization platform xStocks and the stablecoin payment platform Krak.
xStocks supports users to trade on-chain stocks tokens around the clock, while Krak targets the P2P payment market of traditional payment platforms like PayPal. These product expansions show that the exchange is competing for market share through business diversification, and its strategy of combining traditional finance with blockchain may have driven recent user growth.
