- Kraken plans to go public with an IPO in Q1 2026, following the SEC’s dropped lawsuit in March 2025.
- The crypto exchange reported $1.5B in revenue in 2024 and raised $100M in a pre-IPO funding round.
Crypto exchange giant Kraken, also known as Payward Inc, is preparing for going public in 2026. According to the latest Bloomberg report, the exchange is planning for an initial public offering (IPO) in the first quarter of 2026.
The company representative maintains that plans may undergo adjustments before the scheduled date. The company made this announcement following the Securities and Exchange Commission’s (SEC) decision to drop its legal action against Kraken.
Regulatory Comfort Opens Door to Public Markets
Kraken faces legal action from the Securities and Exchange Commission (SEC) under the Biden administration just like numerous other cryptocurrency companies. In November 2023 the exchange faced a legal complaint which accused it of operating as an unregistered securities exchange and violating securities laws.
However, as the government changed and Trump became the president, the SEC’s approach towards the crypto space has been changed significantly. The new administration focused on fostering the growth of the crypto sector, and this led the SEC to drop the litigation in March 2025.
Kraken stated on this,
“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. We’ll pursue public markets as it makes sense for our clients, our partners and shareholders.”
Kraken came under the top ten crypto exchange list worldwide. It generated over $1.5 billion in revenues in 2024. The plans for the IPO have been made since 2021 and in 2024 the exchange raised over $100 million in a pre-IPO funding round.
As the regulatory approach towards the crypto market is changing, more and more crypto companies are planning for IPO. Circle, the firm behind the USDC stablecoin, is also planning for a public listing.
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