Kraken just collapsed the wall between centralized and decentralized trading. On June 18, the exchange announced that on-chain token trading is now built directly into the Kraken app. Customers in the United States and more than 100 countries can use the feature today. At launch, the platform supports nearly 2,500 verified Solana-based tokens. Many of those assets do not appear on any centralized exchange.
Access the Solanaverse on Kraken.
— Kraken (@krakenfx) June 18, 2026
2,500+ tokens not yet on major exchanges.
Find the token you want, tap, and trade.
No extra wallets, no seed phrases, no complicated set up.
On-chain trading is now live in the Kraken app ⤵️https://t.co/nKxDsDOROY pic.twitter.com/NzBUVsCJVd
What Kraken Actually Launched
The new feature lives inside the same Kraken app users already have. There is no separate wallet, no browser extension, and no bridging step. Instead, the app routes orders directly to Solana decentralized exchanges. Users trade with USD or USDC and pay in seconds. Their on-chain holdings appear alongside their regular Kraken portfolio.
Kraken built the feature on top of Privy’s embedded wallet technology and Solana DEX infrastructure. As a result, a non-custodial wallet is created automatically the first time a user trades. Kraken does not hold the assets, and it does not hold the keys. However, the user never sees a seed phrase or signs a transaction prompt. The login flow stays identical to the rest of the app.
How the In-App DEX Trading Works
The mechanics behind the feature blend centralized convenience with on-chain settlement. Orders execute as market trades against live Solana DEX liquidity, with a 3% slippage cap applied automatically. Settlement typically finalizes in under 60 seconds. Network fees on Solana usually come in under one cent. Additionally, Kraken applies a flat 1% technology fee on each swap.
The wallet itself is fully exportable. As a result, a user can move their private keys out to Phantom or any other Solana wallet at any time. Meanwhile, the embedded experience hides the on-chain complexity for less technical users. Verified identity is still required, which keeps the product within Kraken’s compliance perimeter. The minimum trade size sits at $10.
Why This Matters for Crypto Markets
For years, the largest US exchanges only listed a few hundred carefully vetted tokens. In contrast, Solana DEXs list new assets within minutes of deployment. That gap forced users to choose between safety and access. Now Kraken is closing that gap for its base. Users get exchange-grade UX with DEX-grade asset coverage, and they keep custody on-chain.
Importantly, the feature also reshapes how early-stage Solana tokens reach retail audiences. Previously, a new SPL token needed a centralized listing to find broad liquidity. However, Kraken’s app can now route those flows on day one. Furthermore, the assets stay on Solana the entire time, which preserves transparency and composability. Builders launching new tokens gain a direct path to a mainstream user base.
The Competitive Backdrop
Kraken is not the first major exchange to embed DEX trading. Last year, Coinbase added Jupiter-powered Solana token swaps inside its own app. Robinhood has also pushed into tokenization and on-chain settlement. As a result, the major US platforms are racing to become “everything exchanges.” On-chain trading is the latest front in that race.
Kraken’s earlier rollout was narrower, with access limited to a handful of countries including Mexico and Peru. The June 18 expansion adds the US and a long tail of jurisdictions. Notably, that gives Kraken a wider geographic footprint than several competing in-app DEX integrations. The product also lines up with Kraken’s broader push into tokenized stocks, perpetuals, and on-chain settlement. Together, those moves frame Kraken as a single venue for both Wall Street and Web3 assets.
What Comes Next
Kraken signaled that Solana is only the first chain. The team plans to extend on-chain trading to additional networks. Ethereum, Base, and other major ecosystems are likely candidates, though Kraken has not named specific chains. Meanwhile, the company will keep expanding its tokenized equities and perpetuals offerings on parallel tracks. The combined roadmap points toward a fully unified trading surface.
Kamo Asatryan, Chief Data Officer of Payward and Global Head of Consumer, framed the launch around accessibility. “This is about access. Buying, holding, and selling crypto should feel simple, even when the tech is powerful,” he said. That positioning captures the bigger shift. The exchange-versus-DEX distinction is fading, and the user interface is what wins. Kraken is betting that simplicity, paired with breadth, defines the next phase of crypto trading.
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