financemagnates.com
Kraken has filed a confidential draft registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).
Digital assets meet tradfi in London at the fmls25
The crypto exchange has not yet disclosed the number of shares or price range for the offering, which will proceed once the SEC review is complete and market conditions are favorable.
The filing follows an $800 million funding round that valued Kraken at $20 billion. The round included a $200 million strategic investment from Citadel Securities, alongside primary investments from firms such as Jane Street and DRW Venture Capital.
Expanding Product Offerings
Since its founding in 2011, Kraken has grown into a major digital asset platform. Clients can trade more than 450 cryptocurrencies, U.S. futures, U.S.-listed stocks and ETFs, and fiat currencies.
[#highlighted-links#]
The platform offers several services, including Kraken Pro, Kraken Institutional, Kraken Onchain, and the Kraken App. Kraken is preparing to enter public markets after a significant capital injection that has valued the cryptocurrency exchange at $20 billion.
The company, formally known as Payward, Inc., has confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).
The exact number of shares and pricing for the IPO have not been finalized, and the offering will proceed after the SEC completes its review and market conditions allow.
This move comes immediately following an $800 million funding round, which included a $200 million strategic investment from Citadel Securities. Other investors in the round included Jane Street and DRW Venture Capital.
Expanding a Diverse Trading Platform
Its platform allows clients to trade over 450 digital assets, U.S. futures, U.S.-listed stocks and ETFs, as well as fiat currencies. The company offers multiple services including Kraken Pro, Kraken Institutional, the Kraken App, Kraken Onchain, and NinjaTrader, a retail futures trading platform acquired in May 2025 for $1.5 billion.
The acquisition of NinjaTrader expands Kraken’s reach into traditional futures markets and diversifies its offerings beyond crypto. Kraken clients can buy, sell, stake, earn rewards, send and receive assets, custody holdings, and access advanced trading and portfolio management tools.
Kraken has consistently emphasized transparency and security, becoming the first crypto platform to conduct Proof of Reserves. The company complies with applicable laws while actively protecting client privacy and maintaining strict security standards.
Industry observers note that the IPO follows a trend of successful public offerings by digital asset companies this year, including stablecoin issuer Circle and Gemini, the crypto exchange founded by the Winklevoss twins.