Kraken, the San Francisco-based cryptocurrency exchange, is going public by selling a 0.255% stake in the company to their customers. The well-established crypto exchange hopes to raise $10 million to bring the company’s evaluation up to almost $4 billion.
The exchange has partnered with online investment platform BankToTheFuture to raise this capital from accredited investors who must make a minimum purchase of $1,000 to participate.
We are always looking for ways to democratize access to our equity, allowing more of our valued clients to become valued investors. To that end, we partnered with @BankToTheFuture to create an opportunity to invest in Kraken: https://t.co/DZA1nYFPqe
— Kraken Exchange (@krakenfx) May 20, 2019
Thus far, Kraken has raised more than $7.4 million from 470 investors and have another 28 days to raise the remaining funds to reach $10 million.
Kraken made a similar offer to select investors to purchase a stake in their company last year. However, unlike this year’s low purchase minimum of $1,000, last year’s minimum was $100,000 and brought the exchange to a valuation of nearly $4 billion.
In comparison to Coinbase – another leading US-based crypto exchange – they are valued at $8 billion.
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