Kraken plans $1B raise ahead of 2026 IPO
March 25, 2025
Cryptocurrency exchange Kraken is reportedly planning to raise up to $1 billion in capital as it prepares for a potential initial public offering (IPO) in early 2026. The company is exploring a debt package in the range of $200 million to $1 billion to support its expansion strategy.
Debt Funding to Support Growth
According to sources, Kraken is in early discussions with major financial institutions to structure the funding. The capital would not be used for operational expenses but rather to accelerate product development, infrastructure growth, and expansion into new markets.
Record-Breaking 2024 Performance
Kraken experienced rapid growth in 2024, reporting $1.5 billion in revenue — a 128% increase compared to the previous year. The exchange also posted adjusted earnings of $380 million and facilitated $665 billion in cumulative trading volume throughout the year.
With over $1 billion in daily trading volume, Kraken remains one of the leading crypto exchanges in the world.
Expanding into Derivatives and Traditional Markets
As part of its broader expansion, Kraken acquired NinjaTrader, a futures-focused brokerage firm, for $1.5 billion. Registered with the U.S. Commodity Futures Trading Commission, NinjaTrader strengthens Kraken’s push into the derivatives space and adds capabilities in equities and payment solutions.
Staking Services Resume in the U.S.
Kraken has reintroduced staking for U.S. clients after a nearly two-year pause. Users in 37 states now have access to staking across 17 cryptocurrencies, including Ethereum and Solana. The move reflects growing confidence in a more favorable regulatory environment.
IPO Set for 2026
Kraken’s IPO ambitions have gained momentum, with the exchange reportedly targeting the first quarter of 2026 to go public.