Kraken, one of the largest U.S.-based cryptocurrency exchanges, said it raised $800 million in new funding across two separate tranches. The company was founded in 2011 and remains one of the longest-operating centralized exchanges in the market.
The main tranche included commitments from major institutional investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital. Kraken Co-CEO Arjun Sethi’s family office also participated. A second agreement secured an additional $200 million in strategic investment from Citadel Securities, valuing the exchange at $20 billion.
Kraken said the new capital will help accelerate its plan to bring more traditional financial instruments on-chain.
“Our focus has always been straightforward: to create a platform where anyone can trade any asset, anytime, anywhere. The caliber of our new investors reflects both the scale of the opportunity ahead and the depth of alignment around how this infrastructure should be built.”
In recent months, Kraken has broadened its multi-asset offering. The exchange integrated U.S. futures trading through its acquisition of NinjaTrader, launched equities and tokenized equity markets, and introduced KRAK — a global application for payments, savings and investing.
Kraken’s roadmap includes expansion into Latin America, Asia-Pacific and EMEA. The company aims to add new asset classes beyond cryptocurrencies, roll out advanced trading tools and staking products, expand payment capabilities, and strengthen institutional services.
Rumors about a potential Kraken IPO persist. The company explored a public listing during the previous bull run in 2021.
Kraken Co-CEO Arjun Sethi said in an interview with Yahoo Finance last week that the company has no immediate plans to pursue an IPO, despite the increasingly supportive regulatory climate in the U.S.
“We have enough capital on our balance sheet today as a private company, and we don’t want to race to the door as quickly as possible,”