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According to recent reports, Kraken, a prominent digital currency exchange, is planning to raise $1 billion in debt. This development comes as a significant indication of the exchange’s serious intentions to go public.
The move is seen as a major shift for Kraken, which had previously postponed its initial public offering (IPO) plans. However, with the recent change in regulatory environment and the company’s efforts to expand its presence in traditional finance, it appears that the exchange has reconsidered its IPO plans.
As previously reported by U.Today, the Securities and Exchange Commission (SEC) agreed to dismiss a lawsuit against Kraken on March 3 as part of its efforts to ease enforcement. This recent development may have contributed to Kraken’s renewed focus on going public.
Doland, an expert in managing large-scale IPOs, is reportedly involved in Kraken’s IPO preparations. Doland was responsible for the successful management of LendingClub Corporation’s 2015 IPO, which at the time was one of the biggest internet IPOs in the U.S.
In addition to its potential IPO plans, Kraken recently acquired futures broker NinjaTrader for $1.5 billion.
Source: https://u.today/kraken-intends-to-raise-1-billion-in-debt
