The second-largest US-based crypto exchange by trading volume is reportedly a candidate for the early public offering (IPO) next year.
Citing those familiar with the issue, the information reports that Kraken aims to raise $500 million at a $15 billion valuation.
Prices represent a significant increase since 2022 when the 14-year-old Coinbase Challenger was valued at just $11 billion.
The report says the valuation could affect the company’s public plans.
“What we don’t actually have is a roster of institutional investors who are likely to need to pull out a public list. This latest round could be useful if the investors are happy with their rating.”
In March, Bloomberg reported that Kraken was planning a public debut in the first quarter of 2026. The development comes as many other crypto companies are considering launching stocks after the election of Donald Trump, who has vowed to support the digital asset industry.
Kraken has already begun to publicly release financial figures. He said the exchange is taking into account the interests of the company’s stakeholders as it proceeds to potential IPOs.
“We recently revealed that the financial highlights of 2024 will be more transparent about our business. This started with revealing the reserve proof first and we will continue to prioritize it. We will pursue the open market as it makes sense for our clients, partners and shareholders.”