Kraken launches Solana on-chain trading for 2,500 tokens via mobile app

Kraken began offering on-chain trading of almost 2,500 Solana-based tokens through its mobile app on June 18, giving eligible users in the United States and more than 100 other countries access to decentralized exchange markets without managing a separate wallet or seed phrase.

"This is about access," said 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 feature, powered by Privy's embedded wallet technology and Solana DEX protocols, allows users to trade on-chain assets directly through Kraken's existing interface in USD or USDC. On-chain holdings appear alongside users' broader Kraken portfolios, eliminating the need to bridge assets or switch between applications. The mechanics of DEX execution are handled in the background.

Kraken said the rollout starts with Solana, one of the most active networks for token launches and memecoin trading, with plans to add more networks over time. The exchange cautioned that on-chain trading is self-custodial, meaning it does not hold user assets or private keys, and that tokens available through the DEX have not been reviewed or approved by Kraken. Trades are executed through third-party protocols, exposing users to token volatility, execution risk and potential losses.

The integration positions Kraken to capture retail demand for early-stage tokens that typically gain liquidity on decentralized exchanges before being listed on centralized platforms. Many of those tokens have required technical knowledge and separate wallet setups to access. By embedding DEX access into its main app, Kraken competes directly with other major exchanges racing to simplify on-chain onboarding. The company said it will expand the feature to additional blockchain networks in future releases.

This article is for informational purposes only and does not constitute investment advice.