Crypto exchange Kraken has secured $800 million in fresh funding across two investment rounds, pushing its valuation to $20 billion and setting the stage for aggressive global expansion. The US-based exchange announced the successful raise on Tuesday, highlighting strong investor confidence amid shifting regulatory conditions.
The second tranche of the funding round included a $200 million strategic investment from Citadel Securities, one of the largest market-making firms in the US. Kraken said the partnership will allow Citadel to provide expertise in areas such as liquidity provision, market structure insights, and advanced risk management. Citadel recently participated in Ripple’s $500 million round, signaling its growing interest in the digital asset sector.
Other backers in the primary tranche include Jane Street, DRW Venture Capital, HSG, Tribe Capital, and a substantial investment from the family office of Kraken Co-CEO Arjun Sethi.
Kraken Targets Global Growth With New Capital
In a statement, Kraken said the funding will be used to enhance its regulated presence and expand its product suite through organic development and targeted acquisitions. The company plans to scale operations across multiple regions, including:
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Latin America
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Asia Pacific
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Europe
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The Middle East
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Africa
Kraken emphasized that the capital raise reinforces its long-term commitment to expanding regulated crypto services worldwide while improving product quality for existing customers.
IPO Speculation Resurfaces but Kraken Says It Isn’t Rushing
The new funding revived long-standing speculation about a possible Kraken IPO, a topic the exchange has teased several times in recent years. Former CEO Jesse Powell previously stated that the company intended to go public in early 2022, though that plan never materialized.
Speaking with Yahoo Finance, Co-CEO Arjun Sethi said Kraken remains “financially sound” and does not feel pressured to go public despite a more favorable US regulatory environment. He added that private funding remains sufficient to support Kraken’s long-term strategy, with the latest capital injection further strengthening the company’s financial position.
While competitor Coinbase went public four years ago, Kraken continues to prioritize operational expansion and product development over an immediate stock market debut.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions
