Popular cryptocurrency exchange Kraken is exploring raising up to $1 billion to fund a potential initial public offering (IPO).
Kraken is working with major financial sector players, including Goldman Sachs and JPMorgan Chase, to aid the venture. While the process is still in its early stages, these big banks have started talking with other banks, financial institutions, and money lenders.
This is a huge step in Kraken’s aim to become one of the top cryptocurrency exchanges in the world. The firm is recognized globally for its blockchain expertise.
The potential IPO, set for early 2026, will take advantage of the current favorable US regulatory framework. The firm is also planning a pre-IPO funding round to strengthen its financial position and attract influential partners before officially going public.
Kraken’s Road To Expansion
Kraken’s decision to fund a potential IPO comes after a long legal battle with the SEC. The regulatory body had previously taken action against the crypto exchange for operating a securities platform without a registered license. After a long legal process, the SEC dropped its lawsuit against Kraken in early March 2025.
Kraken has been one of the top performers in the cryptocurrency world. It recorded revenue of over $1.5 billion in 2024, an impressive 128% increase from its revenue in 2023, marking significant progress in the blockchain sector.
As part of its aim to become a leading figure in the financial world, Kraken acquired Ninjatrader for $1.5 billion. This records the largest-ever deal combination of TradFi and crypto. This move aims to enhance its “multi-asset class ambitions” by creating a platform where users can access crypto, futures, derivatives, and traditional financial products.
The debt package will focus on expansion efforts instead of operational costs. The firm has been vocal about its goal to be the go-to platform for trading “anything, anywhere, and everywhere.”
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