Breaking News: Kraken Crypto Exchange Plans IPO in 2026
Crypto exchange Kraken, also known as Payward Inc., is gearing up for an initial public offering (IPO) in early 2026. This move comes as a response to a more favorable regulatory environment under the Trump administration, which stands in stark contrast to the regulatory challenges faced during the Biden administration.
Progress towards IPO
Sources close to the matter revealed to Bloomberg that Kraken’s IPO plans are rapidly advancing. The company is looking to take advantage of the improving landscape for crypto businesses.
“We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being first to publish proof of reserves and we’re going to continue to prioritize going forward,” Kraken told Bloomberg News. “We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”
The Journey to the Kraken IPO
Despite facing regulatory hurdles, including actions from the U.S. Securities and Exchange Commission (SEC), Kraken has managed to clear the path for its public listing. The recent drop of the SEC case against Kraken and the resolution of another case without penalties indicate a shift in regulatory sentiment under the Trump administration, which has shown a more crypto-friendly approach.
In 2024, Kraken reported strong financial performance, with $1.5 billion in revenue—a 128% increase from the previous year—and $380 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). The exchange also handled $665 billion in trading volume and oversaw $42.8 billion in customer assets by the end of the year, positioning itself well for a successful IPO.
This move by Kraken reflects a larger trend in the crypto industry, with other firms like Circle, BitGo, Bullish, and Gemini also exploring IPO opportunities. President Trump’s positive stance on digital assets has bolstered industry confidence, with top executives, including Kraken Co-CEO Arjun Sethi, meeting with him at the White House Crypto Summit.
Companies Mentioned in this Article:
- Circle
- BitGo
- Bullish
- Gemini
