Kraken could follow in the footsteps of Coinbase and become the following publicly-traded crypto exchange based in the United States.
Jesse Powell, the CEO of Kraken, has stated that the cryptocurrency exchange could go public before the end of 2022.
In an interview with Bloomberg TV, Powell stated that the move would be a natural evolution for the company in its objective to “bring crypto to the world.”
According to Powell, Kraken is now undergoing “prep work” to go public in the next 12 to 18 months. On the other hand, the exchange CEO did not provide a target valuation for the planned float.
Given the disappointing success of Coinbase’s stock offering in mid-April, Kraken was reconsidering its earlier plans to seek a direct listing path to become a public corporation.
Indeed, a Kraken representative said in March that the company was “too huge” to go public through a merger with a special-purpose acquisition firm.
With the SPAC and direct listing routes likely off the table, Powell’s latest revelation could indicate that Kraken is preparing to go public.