- Kraken aims to raise $500 million at a $15 billion valuation as it targets a public offering in 2026
- Crypto exchange sees strong growth with $1.37 billion in daily trading volume, competing closely with Coinbase
- Kraken expands into Europe with new services and a crypto license under the MiCA framework
Kraken, one of the largest cryptocurrency exchanges in the U.S., is reportedly in talks to raise $500 million, aiming for a valuation of $15 billion. The funding plan, as per The Information, signals Kraken’s readiness for a potential initial public offering (IPO) as soon as 2026. Bloomberg reported in March that Kraken aims for a public debut in Q1 2026, driven by a more favorable regulatory environment under the Trump administration.
Kraken was last valued at approximately $11 billion in 2022. The firm aims to capitalize on a growing surge in initial public offerings (IPOs) for crypto firms, such as those seen by stablecoin issuer Circle Internet Group and trading platform eToro, both of which have seen substantial returns.
With daily trading volume reaching around $1.37 billion and over 1,100 trading pairs listed, Kraken continues to strengthen its market position. This comes in comparison to its main rival, Coinbase, which has a higher daily trading volume of $2.77 billion with fewer trading pairs at 448. However, Kraken’s solid volume proves its competitiveness in the market.
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Kraken eyes major funding and IPO ahead of 2026 debut
As Bitcoin continues to hit new highs and the market remains bullish, crypto companies are seeing major stock gains. For instance, Circle, the issuer of USDC, launched a $1 billion public offering in June, resulting in a 484% increase in its stock price since trading began. Similarly, trading platform eToro has experienced a 16.5% increase in its stock price since debuting on the Nasdaq in May.
Notably, Kraken is one of several crypto firms that are seeking to go public amidst a wave of crypto-friendly regulations and the favorable political environment under President Trump. The SEC’s recent decision to drop its long-running securities violation lawsuit against Kraken in March of this year has contributed to the momentum in the market, further reducing regulatory uncertainty for crypto firms.
Kraken’s global ambitions: Expansion and new ventures
In addition to the funding round, Kraken is also expanding its operations. The firm recently launched a peer-to-peer payments app called “Krak,” which allows users to send fiat and cryptocurrency across borders without any country-specific restrictions. The firm has also obtained a license under the EU’s Markets in Crypto-Assets (MiCA) framework, allowing it to expand across the European Union.
Kraken’s strategic moves not only capitalize on the growing interest in digital assets but also strengthen its international presence, offering additional services to users globally. The firm is positioning itself to benefit from the expanding crypto market while also preparing for a public offering that could unlock substantial capital.
