According to Bloomberg, the administration of the Kraken cryptocurrency exchange is considering the possibility of holding a final round of financing before a possible initial public offering of its shares on the stock market.

Bloomberg, citing sources familiar with the situation, reports that after receiving requests from potential investors, the Kraken exchange intends to attract additional investments worth more than $100 million.

Fundraising may be completed by the end of the year and, under favorable circumstances, an initial public offering (IPO) on the stock market will take place as early as next year. In addition, the exchange is looking for a “renowned” business partner who will join the board of directors and help carry out a successful IPO.

Against the background of the positive dynamics of the cryptocurrency market, Kraken’s operating income for 2024 is expected to significantly exceed $1 billion, which makes the exchange’s plans to enter an IPO greater investment attractiveness.

It was previously reported that the cryptocurrency exchange acquired digital asset-focused broker TradeStation Crypto. This transaction opened up opportunities for the exchange to further grow and expand its presence in the United States.