Kraken launches U.S. spot margin trading with 10x leverage

Kraken announced May 6 that it has launched U.S.-regulated spot margin trading on Kraken Pro, giving eligible U.S. users access to leveraged long and short positions of up to 10x using existing crypto holdings as collateral.

The product is offered through Ninjatrader Clearing LLC, doing business as Kraken Derivatives US. That entity is registered with the Commodity Futures Trading Commission as a Futures Commission Merchant and is a member of the National Futures Association. Financing for the product is provided by Payward Accredited LLC.

Qualifying traders can open margin positions on approved crypto assets and view key risk information including liquidation levels, borrowing costs and available margin. Users can assign collateral to individual positions so exposure is limited to funds committed to a specific trade rather than the entire account balance.

The platform caps leverage at 10x for eligible assets and enforces collateral and liquidation mechanics intended to limit exposure within accounts. Users must meet eligibility requirements, adhere to product limits and complete required risk disclosures before trading begins.

Kraken Pro provides 24-hour stop-loss functionality to allow continuous risk management across eligible markets.

Kraken said the launch follows Payward’s acquisition of Bitnomial, a U.S.-regulated derivatives exchange, broker and clearinghouse. That regulatory structure supports plans to expand regulated trading products across Kraken, NinjaTrader and related platforms.

Darius Tabatabai, head of Kraken Pro, commented, “For too long, US traders have been excluded from accessing this functionality in a regulated environment.” He added that the launch is intended to bring market structure onshore while prioritizing transparency, risk management and regulatory compliance.