Bolstered by a new $800 million war chest, cryptocurrency exchange Kraken has confidentially filed for an initial public offering.
The company, which announced the funding at a $20 billion valuation on Tuesday, is poised to use the capital to expand its global footprint and payment services while simultaneously pursuing a public listing.
A source confirmed the confidential filing to CNBC, making Kraken the latest firm in a growing cohort of crypto companies tapping the public markets.
This trend has seen platforms like Bullish and Gemini Space Station list shares in recent months, amid a broader recovery in US IPOs. Founded in 2011, Kraken is a key US player in digital asset trading.
