The upcoming public listing in 2022 is attracting more and more investors. Recently it was announced that RIT Capital Partners ,also known as Rothschild Invest Trust, has purchased an interest in Kraken cryptocurrency exchange. The deal details are not disclosed, but experts estimate is at least $100 million, based on the investment activity of the trust.
In 2021 all major cryptocurrency exchanges perform massive growth in customer and subsequently revenue streams. The main competitor of Kraken is Coinbase, which have earned $1,8 billion in the first quarter of 2021. Moreover, Coinbase public listing was the first IPO for a company from crypto space. Based on its success Kraken management is more convinced to follow the same path.
Previously, Kraken’s management announced plans to go public in the 3rd or 4th quarter of 2021. It is also possible for the company to change jurisdiction in favour of Japan or the UAE, due to the tightening of regulation of the cryptocurrency sector in the US.
Meanwhile, the exchange is actively expanding its workforce in order to follow the roadmap. Kraken already possesses the banking licence and plans to create a bank for digital assets.
Kraken —one of the oldest and largest cryptocurrency exchanges in the world founded in 2011. The headquarters are located in San Francisco. The monthly audience of the platform is over 25 million users.