Cryptocurrency exchange Kraken is considering the possibility of attracting additional funding, which will allow it to more than double its valuation from the current level of $ 5 billion. Bloomberg writes about this with reference to its own sources.
At the end of 2018, the company estimated its capitalization at $ 4 billion. According to the results of the last round of financing in February 2019, Kraken raised $ 100 million, fulfilling such expectations.
Bloomberg sources said that the exchange’s management is in talks with the management company Fidelity Investments, as well as venture capital funds Tribe Capital and General Atlantic. Kraken expects that in the optimistic scenario, the business founded in 2011 will receive an estimate of $ 20 billion.
The agency was unable to obtain comments from potential investors.
Kraken’s boost to fundraising efforts comes amid approval by the US Securities and Exchange Commission of rival Coinbase’s bid for direct listing of shares… On February 20, traders estimated its capitalization at $ 100.3 billion.
According to CoinGecko, Kraken has a daily turnover of $ 2.4 billion across 214 cryptocurrency pairs. The exchange has the highest platform-generated trust rating. The company does not disclose its financial performance.
The cryptocurrency exchange includes FCA-regulated crypto derivatives platform Kraken Futures, built on top of Crypto Facilities, which the company acquired in early 2019.
In September, Kraken became the first US crypto exchange to receive bank status. The Wyoming Banking Council approved the application.
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