Cryptocurrency exchange Kraken has successfully secured $800 million in a new funding round, propelling its valuation to $20 billion. The funding, announced on Tuesday, November 18, 2025, is earmarked for global expansion, product development, and enhanced institutional capabilities. This marks one of the largest capital raises in the crypto space, highlighting the increasing convergence of digital asset platforms and traditional finance.
The funding round was structured in two tranches. The primary tranche saw participation from leading institutional investors, including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital. Arjun Sethi, Kraken's Co-CEO, also contributed significantly through his family office. Following this, Citadel Securities made a $200 million strategic investment, solidifying Kraken's $20 billion valuation.
Kraken intends to allocate the fresh capital towards several key areas. A primary focus is global expansion, with specific regions of interest including Latin America, Asia Pacific, and EMEA. The company aims to strengthen its regulatory integration across existing markets and pursue new licenses to operate in additional jurisdictions. Product development will also be a priority, with plans to introduce advanced trading tools, broader staking options, and more comprehensive institutional services.
This substantial funding round stands in stark contrast to Kraken's previous capital strategy. Since its founding in 2011, the company had only raised $27 million. This highlights Kraken's historically efficient and self-sustained growth model. According to its financial disclosures, Kraken generated $1.5 billion in revenue in 2024 and has already surpassed that figure in the first three quarters of 2025. In 2024, the exchange handled $665 billion in trading volume and managed $42.8 billion in client assets.
Kraken's recent moves indicate a strategic shift beyond traditional crypto trading. The acquisition of NinjaTrader introduced U.S. futures trading to the platform. Furthermore, the introduction of equities and tokenized equity trading bridges the gap between traditional and digital markets. The KRAK app extends Kraken's reach into payments, savings, and investment solutions globally. As of 2024, Kraken supports 2.5 million funded accounts, solidifying its position as one of the world's largest regulated crypto exchanges.
The participation of Citadel Securities in this funding round is particularly noteworthy. Jim Esposito, President of Citadel Securities, stated that the firm is excited to support Kraken's continued growth and help shape the future of digital innovation in markets. Citadel Securities' expertise in liquidity provision, risk management, and market structure is expected to strengthen Kraken's market leadership. This collaboration underscores the increasing acceptance of digital assets by traditional financial institutions.
Arjun Sethi, Co-CEO of Kraken, emphasized that the investment reflects a long-term conviction in Kraken's mission to build a trusted and regulated infrastructure for the open financial system. He reiterated the company's commitment to creating a platform where anyone can trade any asset, anytime, anywhere.
With this new capital injection, Kraken is poised to further its strategic roadmap, expand its global footprint, and solidify its position as a leader in the evolving digital asset landscape. The company's focus on regulatory compliance and security, combined with its innovative product offerings, positions it well for continued success in the years to come.
