Invest in Kraken IPO

Kraken's Company Profile, Funding & Valuation
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What is Kraken?

Kraken is a cryptocurrency exchange and bank established in the United States. The exchange facilitates the conversion of cryptocurrencies and fiat currencies and provides market data to Bloomberg Terminal.. Since its inception in 2009, Kraken has supported over 90 different cryptocurrencies (with more being added weekly), all of which may be bought, sold, or traded at competitive exchange costs. It's remarkable for being able to enable both spot trading at current market prices and futures trading in the bitcoin space.

Kraken also provides customers with leverage accounts and futures trading, riskier products that might be advantageous for certain trading techniques. It offers cheaper trading costs than other crypto exchanges, as well as extensive charting, several order types, margin trading, and futures trading.

Kraken is one of the biggest and most established cryptocurrency exchanges in the world. And it has prioritized security from the start. The exchange located in the United States has constantly led the market in terms of security. It has both physical and financial security.

Investing in Kraken IPO

CEO Jesse Powell revealed in April 2021 that the company is considering going public in 2022.  Its AED 14.6 billion value makes it one among the most anticipated IPOs.

Kraken raises AED 18 million in a Series A round of investment from Hummingbird Ventures. In 2017, it acquired Cryptowatch for digital asset trading, Coinsetter, Cavirtex, and CleverCoin, as well as the wallet financing business Glidera — which will soon be renamed as Kraken Direct.

Being the world's fourth biggest cryptocurrency exchange, Kraken got a banking license in Wyoming in 2020, allowing it to provide a broader range of cryptocurrency-related financial services. The firm's latest fundraising attempts come two years after it took an extraordinary step to raise AED 367 million in 2019. This move saw Kraken solicit funding from its own users, including people Powell referred to as "crypto OGs," rather than from venture capital firms, which are typically the source of such investment.

The firm is apparently pursuing an aggressive fundraising campaign with the goal of doubling the AED 37 billion value it sought earlier. Its CEO has denied reports that Kraken may go public through a SPAC and said that a direct listing is more probable.

Kraken is accessible to citizens of 48 US states and 176 countries as of December 2021, and currently offers 95 cryptocurrencies for trading.

Kraken's CEO and Key Executive Team:

  • Jesse Powell (Chief Executive Officer, Co-founder)
  • Austin E. Alexander (Chief Executive Officer)
  • David Ripley (Chief Operating Officer)
  • Jeremy Welch (Chief Product Officer)
  • Kaiser Ng (Chief Financial Officer)