CEO Jesse Powell said the platform “does all the groundwork” to become a publicly traded company.

Just two months after the IPO of Coinbase by a direct listing on the Nasdaq under the ticker COIN, Kraken seems ready to follow suit, because it ” does all the preparatory work To become a publicly traded company, according to CEO Jesse Powell in a interview granted yesterday to Bloomberg TV.

Based in San Francisco, Kraken is the fourth largest cryptocurrency exchange in the world in terms of trading volume and was founded by Powell in 2011. The platform offers trading from over 50 different coins and has become the one of the first cryptocurrency platforms to be listed on Bloomberg Terminal. Powell has suggested that Kraken could go public within the next 12-18 months.

Earlier this year, a rumor circulated that Kraken was considering an IPO through a Special Purpose Acquisition Company (SPAC) with a valuation of $ 10 billion. However, Powell denied the idea in an interview with Bloomberg TV, suggesting that the platform was considering a direct listing instead.

Last February, Kraken would have been in talks with companies such as General Atlantic, Tribe Capital and Fidelity to raise funds, with speculation the exchange would target a valuation of $ 20 billion.

Last month, Arjun Sethi, co-founder of Tribe Capital, joined Kraken’s board as a non-executive director, after several months of massive investment from Tribe, who is now Kraken’s second-largest institutional investor. , behind Hummingbird Ventures.

Powell did not give a target for valuation of Kraken during the interview yesterday, just saying, ” Our mission is to bring crypto to the world, and our valuation will hopefully be a reflection of our success in achieving this mission.. “

Possible proof of this success is the growth of Kraken’s user base. With more than six million customers in nearly 190 countries, customer growth is only accelerating. Kraken reported more registrations in the first two months of this year than in all of 2020.

The May crash dampened trading volumes somewhat, but Powell remains optimistic about a new all-time high in the Bitcoin. He told Bloomberg TV: “ I said a Bitcoin, a Lambo by the end of the year. It might be a Lambo with fewer options or a smaller engine at this point, but I think we’re still looking for really high price targets.. “

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