Crypto Change Kraken Raises $800 Million at a $20 Billion Valuation – Decrypt

American cryptocurrency change Kraken is freshly flush with money, because of an $800 million funding spherical introduced Tuesday.

Kraken mentioned it secured the funding throughout two tranches. The first funding was led by main institutional gamers together with Jane Avenue, DRW Enterprise Capital, HSG, Oppenheimer Different Funding Administration, and Tribe Capital, with extra backing from Kraken Co-CEO Arjun Sethi’s household workplace.

A separate $200 million strategic funding from Ken Griffin’s Citadel Securities was agreed upon at a $20 billion valuation, the corporate mentioned. In July, The Data reported on a deliberate $500 million fundraise at a $15 billion valuation, however the last tally proved to be bigger.

“This funding represents long-term conviction in Kraken’s mission to construct trusted, regulated infrastructure for the open monetary system,” mentioned Sethi. “Our focus has at all times been simple: to create a platform the place anybody can commerce any asset, anytime, wherever. The caliber of our new traders displays each the dimensions of the chance forward and the depth of alignment round how this infrastructure needs to be constructed.”

Kraken had not beforehand leaned closely on funding, elevating simply $27 million in main capital earlier than this spherical, it mentioned. The change generated $1.5 billion in income in 2024, and mentioned that it exceeded that quantity within the first three quarters of 2025.

The agency mentioned the brand new capital will fund international enlargement into Latin America, Asia Pacific, and EMEA, whereas broadening Kraken’s product choices past cryptocurrency to incorporate extra asset courses, superior buying and selling instruments, expanded fee companies, and enhanced institutional capabilities.

Kraken has lengthy been weighing an IPO, with Bloomberg reporting in March that the corporate was eyeing an early 2026 transfer to go public.