Crypto Exchange Kraken Reveal Plans of Going Public in forthcoming Year

Deepshikha  |  Apr 9, 2021

Crypto exchange Kraken is considering going public in the approaching times, the rivalry of this major US-based cryptocurrency exchange and Coinbase has now taken flight. Kraken has now revealed the plans of listing its shares on Nasdaq from 14th April. 

One of the most trusted Crypto Exchanges, Kraken breaks Q1 data indicating a massive increase in user base and revenue.

BTC Rally Carved a Way for Kraken Plans

The US-based cryptocurrency exchange follows the footsteps of Coinbase. Reportedly revealed record-breaking Q1 numbers and is also planning an IPO. Coinbase, the first major US-based cryptocurrency exchange that will see its IPO later this month.

As reported, Kraken is going public via a direct listing. The exchange decided this after the Bitcoin wave swapping its previous records. Planning to go public in the year 2022, the startup is the fourth largest crypto exchange by trading volume, says Coinmarketcap. 

Kraken’s CEO and co-founder, Jesse Powell, mentioned that the firm has benefited tremendously from the Bitcoin wave. Surpassing an all-time-high, of $60,000 in mid-March, the Bitcoin wave attributes the interest of institutional investors. And compelled them to jump into the market.

Powell in an interview with CNBC mentioned that “For us, any volatility is good but it’s always better when it’s on the way up.” 
“The first quarter just completely blew away the entirety of last year. We beat last year’s numbers by the end of February. The whole market has really just exploded,” he added.

Adoption of Non-Fungible Tokens by Crypto Exchange

According to Powell, the exploding popularity of non-fungible tokens leads to a desperate orientation towards digital assets. Non-Fungible Tokens are a type of digital assets that represent the ownership of collectors' items. Kraken’s boss then looks at the fact that investors are turning towards other digital currencies like flow and file coin. Ethereum is also undergoing an ambitious upgrade aiming to be more faster and secure.

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