Kraken secures $800m to expand into Latin America, Asia Pacific

Kraken has raised US$800 million in new funding, including a US$200 million investment from Citadel Securities, valuing the crypto exchange at US$20 billion.

The round was led by institutional investors such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, with Citadel Securities joining in a follow-on tranche.

Kraken, founded in 2011, operates a regulated crypto trading platform offering spot and derivatives markets, tokenized assets, staking, and payment services.

The new capital will support its plan to connect traditional financial markets with blockchain infrastructure and expand into Latin America, Asia Pacific, and EMEA.

Kraken recently expanded its offerings to include US futures trading through the acquisition of NinjaTrader and introduced tokenized equities and a payments app.

Citadel Securities will collaborate with Kraken on liquidity provision and risk management.

Kraken reported US$1.5 billion in revenue for 2024, and said it has already surpassed that figure by Q3 2025.

🔗 Source: CoinDesk

🧠 Food for thought

Implications, context, and why it matters.

Kraken’s traditional finance (TradFi) expansion hinges on unresolved regulatory status

On March 3, 2025, Securities and Exchange Commission (SEC) staff agreed in principle to dismiss its lawsuit against Kraken with prejudice with no penalties or changes to its business 1. The outcome does not cover tokenized equities (stocks represented as blockchain-based tokens) or U.S. futures linked to its NinjaTrader acquisition (a U.S. futures trading platform and brokerage) 2 3.
In 2023, Kraken settled staking charges and paid $30 million 4. It stopped offering or selling securities through crypto asset staking services or staking programs 4. Open questions on disclosures for similar offerings persist, which could affect scaling of staking and tokenized assets 4.

Expansion across Latin America (LatAm), Asia Pacific (APAC) plus Europe, the Middle East and Africa (EMEA) opens space for financial infrastructure providers

Kraken supports seven fiat (government-issued currency) options for deposits and withdrawals plus plans to expand across Latin America, Asia Pacific, EMEA 5 3. Each region needs localized payment rails (local bank transfer networks) plus KYC/AML compliance and fiat on/off-ramps (ways to move between local currency and crypto). Those requirements create work for payments processors and compliance software vendors.
Service is restricted in 14 jurisdictions due to sanctions and regulatory limits 5. The firm operates in over 190 countries 5. It holds registrations with regulators such as the Financial Crimes Enforcement Network (FinCEN) and the U.K. Financial Conduct Authority (FCA) 5. Vendors of cross-border compliance automation can help with identity verification, sanctions screening and transaction monitoring 5.