Kraken Eyes $1B Debt Funding Ahead of IPO
- Kraken is currently working with JPMorgan and Goldman Sachs to raise up to $1 billion in debt to support exchange expansion as it prepares for a potential IPO early 2026.
- The Crypto exchange recently acquired NinjaTrader for $1.5 billion to further strengthen its services in the derivatives market
- The hiring of Carrie Dolan as CFO in 2022 shows Krakens IPO ambitions, given her experience in taking LendingClub public in 2015.
Kraken is planning to raise up to $1 billion in debt as it is preparing for a possible IPO early next year. This move aims to boost the companys expansion and further strengthen its market position before it finally goes public.
Kraken, a well known cryptocurrency exchange, is currently working with two big financial companies, JPMorgan and Goldman Sachs, to help raise funds and strengthen the exchanges financial position.
According to Bloomberg, the company is considering a debt package between $200 million and $1 billion, as of the time of writing, all discussions regarding the debt are still in the early stages. The raised capital is said to be used to support the exchanges expansion rather than its daily operations; banks and lenders may also participate in the deal. However, there has been no official statements or reports from Kraken and the other involved financial institutions
Krakens Possible Plans to go Public
Bloomberg has also been covering Krakens plans to go public for almost a year now, with different speculation coming up after Donald Trumps election as U.S. president. Some reports suggest that the crypto exchange might launch its IPO in early 2026.
It could also be said that the hiring of Carrie Dolan as the crypto exchange CFO in 2022 contributed to the company wanting to go public, as she previously played a key role in taking LendingClub public in 2015, one of the biggest internet IPOs in U.S. history.
Krakens Major Acquisition
Kraken recently bought NinjaTrader, a well-known crypto platform for trading futures, for $1.5 billion. This move strengthens its position in the crypto derivatives market and also aligns with its broader strategy to expand into different asset types, including equities and payments.
With over 10 million users across 190 countries and trading volumes surpassing $207 billion every quarter, this move would definitely cause the exchange platform to continually grow.
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Read more: https://www.tronweekly.com/kraken-eyes-1b-debt-funding-ahead-of-ipo/
Text source: TronWeekly
