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Cryptocurrency exchange Kraken has quietly closed a $500 million funding round at a $15 billion valuation, according to reports from Fortune and The Information. The funding comes as rumours circulate that the company could go public in 2026.
Cementing the Goal to Become Public?
The latest funding round was led by Tribe Capital, with participation from investment managers and venture capitalists. Interestingly, Kraken’s co-CEO Arjun Sethi also invested in the round in a personal capacity.
The valuation of the latest round marks an increase from the $11 billion the company reached in 2022, when it raised an undisclosed sum.
However, the $500 million funding round was not unexpected. Earlier, multiple media reports revealed Kraken’s fundraising plans. Bloomberg also reported that the exchange was aiming to raise as much as $1 billion in debt.
Kraken previously revealed that it generated $1.5 billion in revenue in 2024 and a further $472 million in Q1 2025. It currently handles $1.37 billion in daily trading volume, second only to Coinbase in the United States.
Nasdaq-listed Coinbase has a market capitalisation of $78 billion.
Expanding Beyond Crypto
Meanwhile, the California-headquartered Kraken is also expanding aggressively. It has become one of several crypto exchanges to offer tokenised stocks, thus moving beyond cryptocurrencies.
It also bought a US-regulated retail futures trading platform, NinjaTrader, for $1.5 billion, and now aims to expand the non-crypto platform’s presence to the UK, Europe and Australia.
Kraken additionally acquired a company in Cyprus earlier this year to obtain a Markets in Financial Instruments Directive (MiFID) licence, allowing it to offer derivatives across the European Economic Area. FinanceMagnates.com revealed that the Cypriot firm it acquired is linked to the contracts for differences (CFDs) broker brand PU Prime. The exchange has already put the Cyprus licence to use with the launch of crypto perpetual products.
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This article was written by Arnab Shome at www.financemagnates.com. and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
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