Cryptocurrency exchange Kraken has raised $800 million in new funding, including $200 in investments from Citadel Securities, to accelerate its efforts to bring traditional financial markets to blockchain infrastructure, the company said Tuesday.
The round was split into two tranches, with the main tranche led by institutional investors including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital. A subsequent $200 million investment came from market-making giant Citadel Securities, valuing Kraken at $20 billion.
Kraken, founded in 2011, operates a regulated trading platform offering spot and derivatives markets, tokenized assets, betting and payment services. Its infrastructure is vertically integrated (covering custody, clearing, comparison, settlement and wallet services), allowing the company to deploy new financial products quickly while maintaining compliance standards.
“Our approach has always been simple: create a platform where anyone can trade any asset, anytime, anywhere,” said Arjun Sethi, co-CEO of Kraken. He added that the participation of companies like Citadel and Jane Street reflects confidence in Kraken’s strategy and its infrastructure-first approach.
The raise marks a turning point for the company, which has so far received just $27 million in primary capital. Despite minimal external funding, Kraken generated $1.5 billion in revenue in 2024 and had already surpassed that total by the third quarter of 2025.
Over the last year, Kraken has delved deeper into multi-asset trading. It acquired NinjaTrader to launch futures trading in the US, began offering tokenized stocks, and launched KRAK, a global app for payments, savings, and investments.
Citadel Securities President Jim Esposito called Kraken a key player in “the next chapter of digital innovation in the markets.” The firm plans to work with Kraken on liquidity provision and risk management, areas where Citadel has helped shape traditional markets over the past two decades.
With the new funding, Kraken said it will expand into Latin America, Asia Pacific and EMEA. It also plans to add more trading tools, institutional products, staking solutions and payment services, aiming to meet the growing demand for regulated access to digital and tokenized assets.
