Kraken is one of the world’s largest crypto exchanges.
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Kraken confidentially filed to go public in the U.S., a person familiar with the matter told CNBC on Wednesday.
A Kraken spokesperson declined to comment on the timing of its plans.
Kraken is the latest crypto company to attempt to tap the public market since President Donald Trump came back to the White House. Crypto trading platforms Bullish and Gemini Space Station listed their shares on major stock exchanges in August and September, respectively. And in June, stablecoin issuer Circle raised just north of $1 billion in its blockbuster IPO.
The boom in crypto-linked listings comes as IPOs have seen a resurgence in the U.S. this year.
Founded in 2011, Kraken is a U.S.-based platform that facilitates the trading of digital assets like bitcoin and ether. It also offers tokenized equities trading to clients in the European Union.
Kraken recently raised $800 million at a $20 billion valuation, including $200 million from Citadel Securities, the company said Tuesday in a statement. The firm plans to use those funds to expand its footprint in foreign markets, in addition to building out its payment services.