Crypto exchange Kraken is contemplating the possibility of drawing additional funding, that will enable it to as a minimum double its appraisal from the current level of $5 billion, Bloomberg reports, citing its own sources.
In the last quarter of 2018, the exchange evaluated its capitalization at $4 billion. As for the results of the last series of financing in February 2019, Kraken gathered $100 million, achieving these expectations.
Bloomberg unnamed sources said that the exchange’s board is in negotiations with the managing company Fidelity Investments, and with enterprise capital funds General Atlantic and Tribe Capital. Kraken anticipates that under the most optimistic scenario, the business, that is founded in 2011, will get an estimate of $20 billion.
Kraken’s renewal of fundraising efforts occurs amid approval by the US Securities and Exchange Commission of competitor Coinbase’s bid for a direct share listing.
According to information provided by CoinGecko, Kraken has a daily trade of $2.5 billion across 215 cryptocurrency pairs. However, the firm does not release its financial performance data.
In September last year, Kraken has become the first U.S. cryptocurrency exchange to receive officially recognized bank status. The corresponding application was approved by the Wyoming Banking Council.
