Kraken raises $800 million to expand global operations

The company said the new investment will help expand its presence in international markets, strengthen its regulated business, and grow its product lineup both organically and through acquisitions.

The second tranche included $200 million in strategic funding from Citadel Securities, one of the largest market makers in the US. Alongside the investment, the two firms entered a partnership under which Citadel will advise Kraken on market structure, risk management, and liquidity. Citadel previously joined $500 million round, highlighting its growing activity in the crypto sector.

Kraken’s first tranche was backed by Jane Street, DRW Venture Capital, HSG, Tribe Capital, and the family office of Kraken co-CEO Arjun Sethi, who made a significant personal contribution.

The company already operates in several regions but plans to scale its services across Latin America, the Asia-Pacific region, Europe, the Middle East, and Africa. Kraken says it aims not only to expand geographically but also to strengthen its regulated footprint in key jurisdictions.

Investor interest in Kraken is also driven by long-running speculation about a potential IPO. Co-founder and former CEO Jesse Powell said in early 2021 that the exchange had considered a 2022 listing. Yet even though competitors like Coinbase went public more than four years ago, Kraken has not made a final decision.

In an interview with Yahoo Finance, Arjun Sethi said the company is in no rush to go public despite a more favorable regulatory climate in the US. He said Kraken is financially strong and well capitalized through private financing, and the new funding only reinforces that position.