Cryptocurrency exchange Kraken is reportedly in discussions to secure $500 million in fresh funding, aiming for a company valuation of $15 billion.
This marks a significant increase from its $11 billion valuation in 2022 and is driven by a strategy to bolster growth initiatives and position the company for a potential public offering by 2026.
Kraken, a major player in the digital asset market, currently facilitates an average daily trading volume of $1.37 billion and offers access to more than 1,100 trading pairs. The funding round capitalizes on growing investor confidence fueled by crypto-friendly regulatory developments and the recent successful public listings of other industry participants, such as Circle Internet Group and eToro.
As part of its expansion, Kraken has strengthened its international presence, particularly in Europe. This includes the launch of a peer-to-peer payment application and the acquisition of a Virtual Asset Service Provider (VASP) license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.
The planned initial public offering in 2026 aims to leverage these positive regulatory tailwinds and escalating market interest in cryptocurrency trading platforms.