Kraken Launches 10x Leverage Spot Margin Trading for Eligible US Users on Kraken Pro

Kraken has launched CFTC-regulated spot margin trading on Kraken Pro for eligible US retail traders, offering up to 10x leverage for long and short positions with pre-trade visibility into liquidation prices, borrow costs charged every four hours, and available margin. The product, announced November 20, 2025, follows Kraken's $550 million Bitnomial acquisition for a derivatives clearinghouse license, aiming to onshore leveraged activity from offshore platforms. On the same day, Boltz introduced non-custodial BTC-to-USDC swaps via Circle's CCTP across Ethereum, Arbitrum, Base, Polygon, and Bitcoin layers including Lightning, enabling trustless, KYC-free conversions to regulated stablecoins.