On Tuesday, Kraken announced that after completing a financing round totaling $800 million, the exchange is now valued at $20 billion. This funding will support the global business expansion strategy of the U.S. cryptocurrency trading platform.

According to Kraken, the financing was conducted in two parts, with the second part including a $200 million strategic investment from U.S. market-making giant Citadel Securities at a $20 billion valuation.

This financing also includes a strategic partnership established with Citadel, which notably participated in Ripple's $500 million financing earlier this month. Under the partnership agreement, Citadel will provide Kraken with expertise in differentiated liquidity supply, risk management, and market structure analysis.

The main portion of Kraken's financing was supported by institutions such as Jane Street, DRW Venture Capital, HSG, and Tribe Capital, while the family office of Kraken's co-CEO Arjun Sethi also made a "significant capital commitment."

Kraken stated, "With this additional funding, we will continue to expand our global business scale, deepen our regulated business footprint, and expand our product offerings through organic growth and strategic acquisitions."

Although Kraken has been operating in multiple countries, the company stated that it plans to further enhance the quality of its services and products while actively expanding into emerging markets such as Latin America, Asia-Pacific, Europe, the Middle East, and Africa.

For years, there have been ongoing rumors about Kraken's plans to go public, with its co-founder and former CEO Jesse Powell even stating early in 2021 that the company aimed to achieve an IPO by early 2022.

However, despite its competitor Coinbase having been publicly listed for over four years, Kraken has yet to take decisive action in this area.

Kraken co-CEO Arjun Sethi pointed out in an interview with Yahoo Finance on Friday that while the U.S. regulatory environment has become more favorable, the company is not in a hurry to advance its IPO plans.

Sethi emphasized that Kraken's current financial situation is "strong" and well-capitalized, supported by private financing, and the latest influx of funds is likely to further solidify this advantageous position.

Related: Stablecoin giant Tether has invested in Ledn, targeting the global cryptocurrency lending market.

Original article: “Kraken Raises $800 Million at $20 Billion Valuation for Expansion Plans”

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。