8-3-2025 – Cryptocurrency trading platform Kraken is eyeing a potential stock market flotation as early as the first quarter of 2026, according to sources close to the matter initially reported by Bloomberg. The firm, whose legal entity is registered as Payward Inc, could however alter these intentions depending on market conditions.
When approached for comment, a representative from Kraken stated: “We’ve recently shared our financial highlights for 2024 to enhance transparency about our operations—a practice we pioneered by being the first to publish proof of reserves, which we intend to continue prioritising moving forward. We shall explore public markets when it becomes advantageous for our clientele, partners and investors.”
The exchange, which posted impressive revenue figures exceeding $1.5 billion during 2024, has periodically entertained the notion of becoming publicly traded since 2021. Mid-2024 saw the company investigate the possibility of securing over $100 million in financing through a pre-IPO funding initiative.
Should Kraken proceed with its stock market ambitions, it would join a growing cohort of digital asset firms, including Gemini and eToro, considering similar pathways under what appears to be a more accommodating Securities and Exchange Commission (SEC). Any company seeking to float publicly would require regulatory approval from the SEC, which has demonstrated a marked shift in its approach towards cryptocurrency oversight since the installation of the crypto-friendly Trump administration.
The timing of Kraken’s potential IPO plans is particularly noteworthy, coming shortly after the SEC abandoned its case against the exchange on 3 March, wherein the regulator had previously alleged violations of securities legislation.
