TL;DR:
- Native integration: The new service allows users to trade decentralized assets directly from the standard buy and sell interface of Kraken’s mobile application.
- Technical infrastructure: The functionality utilizes Privy’s embedded wallet system and connects with the leading decentralized exchange protocols of Solana.
- Market metrics: At the close of the second quarter of 2026, the ratio between spot trading on DEX and CEX platforms stands at 13.25%, following an all-time high of 21.75% recorded in June 2025.
During Thursday’s session, Kraken announced the launch of onchain DEX trading directly from its main mobile application. This is a new feature that will provide customers with easy and immediate access to thousands of tokens within the Solana ecosystem without having to leave the familiar environment of the centralized exchange.
Access the Solanaverse on Kraken.
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
— Kraken (@krakenfx) June 18, 2026
The exchange’s official announcement indicates that users have the option to buy and sell decentralized finance (DeFi) assets using their available balances in US dollars (USD) or the stablecoin USD Coin (USDC). Assets acquired through decentralized exchanges will appear listed in a unified manner alongside traditional cryptocurrencies within each customer’s portfolio view.
The “DeFi mullet” strategy and market expansion
Industry data suggests that the total transaction volume on DEX platforms experienced a progressive normalization after reaching a peak of activity in mid-2025. Currently, the market share of DEX trading against centralized platforms reflects a stabilization that contrasts with the high operational volatility observed last year.
With this strategic move, Kraken adopts a product design approach they internally refer to as the “DeFi mullet.” This vision proposes developing financial tools with clean, centralized interfaces facing the end user, while the subsequent technical processing is executed entirely over decentralized infrastructures.
In the official presentation, Payward’s Chief Data Officer, Kamo Asatryan, argued that the main goal is to simplify access to onchain markets. The executive added that technical barriers, such as managing bridges between networks and calculating gas fees, usually intimidate retail investors—a problem this direct integration aims to fully mitigate.
At the corporate level, this development occurs while Payward, Kraken’s parent company, continues to fine-tune preparations for going public in the United States. The company confidentially filed its S-1 form with the Securities and Exchange Commission (SEC) in November 2025. Although market conditions paused the initial listing plans for the first quarter of 2026, the organization’s co-CEO, Arjun Sethi, recently stated that the exchange is approximately 80% ready in its technical and institutional preparation to execute the initial public offering (IPO).
