- Kraken is said to be looking for a $1 billion debt package amid a potential initial public offering.
- Bloomberg reports that Kraken is working with major financial institutions including JPMorgan Chase and Goldman Sachs.
- Crypto exchange Coinbase went public in 2021.
Kraken, one of the leading cryptocurrency exchanges in the market, is reportedly exploring a massive $1 billion debt package ahead of a possible public listing.
According to a Bloomberg report published on Monday, March 24, 2025, Kraken is eyeing the debt raise amid ongoing push for a potential initial public offering.
This isn’t the first time the exchange is in the news regarding a potential IPO. However, it’s the latest news detailing reports of talks with the help of top banks in the United States.
Kraken enlists Goldman Sachs, JPMorgan Chase for $1 billion raise
San Francisco-based Kraken recently scored a huge win as the US Securities and Exchange Commission dropped its case against the exchange. Earlier this year, Kraken disclosed plans for an IPO, with the possible listing expected in the first quarter of 2026.
This latest Bloomberg report therefore adds to this growing IPO talk, noting that Kraken has tapped Goldman Sachs and JPMorgan Chase to aid in this quest.
Although the crypto exchange noted earlier that the IPO push isn’t something set in stone, this move toward a debt package only fuels further speculation. Raising $1 billion would be a huge boost for the company if it materialises.
Kraken, founded in 2011, is among several crypto companies eyeing IPOs. Some of those making considerations as the crypto industry picks notable upside traction include Circle, the issuer of the world’s second largest USD-pegged stablecoin USDC.
Gemini has also reportedly outlined ambitions to join Coinbase as a publicly-traded company. Blockchain.com as well as crypto-friendly eToro eye public listing.
Meanwhile Tether and Ripple execs have in the past downplayed the push for IPOs.
Notably, Coinbase went public in 2021.
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