Kraken Confidentially Files for U.S. IPO After Securing $800 Million in Funding

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Cryptocurrency exchange Kraken has confidentially filed for an initial public offering in the United States, a person familiar with the matter told CNBC on Wednesday.

The move comes immediately after the company announced it raised $800 million in a funding round that valued it at $20 billion and included a $200 million investment from Citadel Securities.

Kraken is the latest digital asset company to seek a public listing, joining a trend that includes recent IPOs from crypto platforms Bullish and Gemini Space Station, as well as stablecoin issuer Circle. This surge in crypto listings is part of a broader resurgence in the US IPO market this year.

Founded in 2011, Kraken facilitates the trading of digital assets and also offers tokenized equities trading to clients in the European Union.