Kraken Files Confidentially for IPO

Kraken, the US-based cryptocurrency exchange, has taken a decisive step toward going public with a confidential IPO filing.

The move signals strong institutional confidence, coming just after the company disclosed an $800 million funding round that included a significant $200 million investment from trading giant Citadel Securities.

This filing, confirmed by a source to CNBC, places Kraken among a wave of crypto companies like Bullish and Gemini Space Station that have recently gone public.

The broader IPO market has also seen a notable rebound this year. Kraken, founded in 2011, plans to use its newly raised capital to fund international expansion and develop its payment services.