According to reports, the second largest crypto exchange in terms of trading volume in the US is planning an initial public offer (IPO) for 2019.
The Information reports, citing people with knowledge of the situation, that Kraken wants to raise $500m at a valuation of $15 billion.
This price represents a substantial increase over the $11 billion valuation of Coinbase’s 14-year old challenger in 2022.
According to the report, the value of the company could impact its plans to become public.
This latest round could help, if it can get investors comfortable with that valuation. If it gets investors to accept that price, this latest round may help.
Bloomberg announced in March that Kraken plans to make its public debut during the first quarter 2026. This development is happening as other crypto firms consider an IPO following Donald Trump’s election, when he pledged to support digital assets.
Kraken is already releasing its financial data publicly. The exchange has said it will take into consideration the stakeholder’s interests when moving towards a possible IPO.
We’ll pursue public markets as it makes sense for our clients, partners and shareholders. As long as the public market makes sense to our clients, partners and investors .”
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The report Coinbase Rival, Kraken is looking to go public at $15,000,000,000 valuation: This may change as new developments unfold.
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