Crypto exchange Kraken has secured a massive $800 million in fresh funding, valuing the company at an impressive $20 billion.
For one of the oldest and most reputable platforms in the crypto space, this funding round marks a major milestone and a signal that institutional confidence in digital assets continues to grow.
Who Invested and Why It Matters
The capital was raised in two separate tranches, each featuring heavyweight investors.
First tranche: traditional finance meets crypto
The first portion of the funding attracted well-known names such as:
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Jane Street, a major global trading firm active in both traditional and digital markets
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DRW Venture Capital, part of DRW, a key player in algorithmic and derivatives trading
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HSG, Oppenheimer Alternative Investment Management & Tribe Capital, established alternative investment firms
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The family office of co-CEO Arjun Sethi
These institutions are not newcomers to complex markets. Their involvement underscores a deeper trend: traditional finance firms increasingly view digital assets as a long-term, viable sector.
Second tranche: a strategic $200 million from Citadel Securities
The second part of the funding came from Citadel Securities, one of the world’s most influential market makers. Their $200 million strategic investment is especially notable because Citadel Securities typically invests in infrastructure that shapes markets at scale. Their support helps legitimize the crypto ecosystem and reinforces Kraken’s position as a mature, global trading platform.
Strong Financials Fuel IPO Speculation
Kraken has been increasingly transparent about its financial health, a sign that the company is preparing for a possible initial public offering (IPO).
For the third quarter, Kraken reported:
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$648 million in revenue
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$178.6 million in EBITDA (a profitability measure used to compare companies)
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5.2 million funded accounts
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$59.3 billion in total customer assets on the platform
These numbers are even more impressive when you consider that Kraken has raised only $27 million in capital prior to this funding round. The company has essentially built a global financial ecosystem almost entirely organically, a rare achievement in an industry where competitors often burn vast amounts of venture capital.
From Crypto Trading to a Multi-Asset Financial Ecosystem
While Kraken is best known as a crypto exchange, the company has spent the past few years expanding aggressively into traditional financial services. Crypto may be its foundation, but Kraken increasingly looks like a full-service investment platform.
Today, Kraken offers:
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Stock trading
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ETFs
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Margin trading
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Tokenized equities (digital versions of stocks)
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Staking services
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Futures trading, significantly expanded after acquiring NinjaTrader earlier this year
This shift is part of a broader industry trend: major crypto companies are evolving into multi-asset fintech platforms. Users want all their investments in one place and Kraken is positioning itself as exactly that.
The KRAK Payments App
Kraken also launched KRAK, an international payments app that aims to compete with global players like PayPal and Revolut. The app allows fast, low-cost payments using both fiat currency and digital assets, reflecting Kraken’s long-term vision: bridging the gap between traditional finance and crypto.
Global Expansion and Regulatory Strength
The new funding will help Kraken expand internationally. In Europe, Kraken has already strengthened its position through intelligent acquisitions, including BCM (formerly Bitcoin Meester) in the Netherlands in 2023.
Kraken is able to operate across Europe thanks to a license under MiCA, the EU’s landmark crypto regulation framework. Their permit was granted by the Central Bank of Ireland (CBI), making Kraken one of the first global exchanges to achieve fully regulated EU status.
Next on the roadmap:
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Latin America – where crypto adoption is growing rapidly due to inflation and unstable local currencies
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Asia – a region with vibrant retail trading activity and strong appetite for digital asset products
The fresh capital provides the financial strength needed to enter new markets with confidence.
A Potential IPO in 2026
Industry insiders report that Kraken is exploring a public listing in 2026. Going public would give the company access to deeper capital markets and strengthen its reputation as a long-term, regulated financial institution.
With the new $800 million, Kraken not only boosts its balance sheet but also sends a clear message: the company is preparing for the next phase of global competition.
