Kraken Integrates Onchain Trading for Solana Tokens

Kraken has expanded its crypto offerings by launching onchain token trading inside its main app. The new feature gives eligible users in over 100 countries access to nearly 2,500 Solana-based tokens.

The introduction of onchain trading allows users to trade these assets directly through Kraken without setting up a separate wallet or managing seed phrases. This streamlined process is made possible by the underlying infrastructure powered by Privy's embedded wallet technology and Solana DEX protocols.

Kraken's move into DeFi access aims to provide a simpler experience for users, as stated by Kamo Asatryan, Chief Data Officer of Payward and Global Head of Consumer. 'Buying, holding, and selling crypto should feel simple, even when the technology behind it is powerful.'

The rollout starts with Solana, one of the most active networks for token launches and memecoin trading. However, users should be aware that onchain trading is self-custodial, meaning Kraken does not hold user assets or private keys.