Crypto exchange Kraken, also known as Payward Inc., is gearing up for an initial public offering (IPO) in early 2026. The decision comes amidst a more favorable regulatory landscape under the Trump administration, a stark departure from the regulatory challenges faced during the Biden presidency.
According to Bloomberg, sources close to the matter revealed that Kraken’s IPO plans are progressing rapidly, with the company looking to take advantage of the improving environment 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.”
Kraken has navigated a rocky road to its IPO, facing regulatory hurdles, including actions by the U.S. Securities and Exchange Commission (SEC). However, recent developments have cleared the path for its public listing, with the SEC dropping its case against Kraken earlier this year. The company’s strong financial performance in 2024, with $1.5 billion in revenue and $380 million in adjusted EBITDA, further solidified its readiness for a public debut.
The move by Kraken aligns with a broader trend of crypto firms exploring IPOs, driven by growing institutional investor interest and regulatory clarity. Other companies in the space, such as Circle, BitGo, Bullish, and Gemini, are also considering public listings. President Trump’s supportive stance on digital assets has been a catalyst for industry leaders, with a recent White House Crypto Summit bringing together top executives, including Kraken Co-CEO Arjun Sethi.
As Kraken gears up for its IPO in 2026, the company’s strong financial performance and favorable regulatory environment position it well for a successful debut on the public markets. Stay tuned for more updates on Kraken’s journey towards going public.
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