Crypto exchange Kraken is considering raising up to $1 billion in debt as it aims for growth ahead of its anticipated IPO.
Kraken is working with Goldman Sachs and JPMorgan Chase, among other banks and lenders, to explore fundraising options.
The funds are intended to accelerate Kraken's expansion efforts, including the recent acquisition of NinjaTrader and expansion into the UK, Europe, and Australia.
Kraken generated $1.5 billion in revenue in 2024 and has over 15 million users.