Kraken quietly closes $500 million at a $15 billion valuation, along with the personal participation of one of the investment managers, venture capitalists, tribal capitals and co-CEOs. At the same time, the integration of Ninjatrader with course heading towards XStocks for tokenized stocks set the final stretch configuration before the public list.
What are your current strategy and positioning?
Kraken’s core profile remains a professional institution. They focus primarily on Kraken Pro, robust APIs, and services for a large number of clients. At the same time, the company continues to develop retail vectors.
The focus is XStocks. This is a tokenized stock wrapped in crypto and can be traded on the blockchain. This concept envisages the cost reduction of traditional brokerage companies and the ability to trade outside the infrastructure of classic brokerage companies. In management logic, the sequence is: Stability, then tokenized assets, and now tokenized stocks.
As Arjun Sethi said:
“My hope at Crypto is to distribute these profits more evenly. We’re not there, but the first step is happening – stable, then tokenized assets, and now stocks.”
At the same time, in the spring, Kraken announced its acquisition of Ninjatrader for around $1.5 billion. According to the company’s rating, this added around 2 million users and in Seti’s words, “the biggest deal that combines Tradfi and Crypto.” This powerful connection between the professional trading platform and Kraken’s Exchange infrastructure strengthens the delivery of active traders, but more importantly, it increases client-based density over IPOs.
In fact, all of this is reflected in powerful operational metrics. Post-FTX revenues were nearly $80 million and second quarter revenues exceeded $411 million. At the same time, the public list window resumed after a long pause, but remains sensitive to the market stage. Of course, there are rebuttals, such as signs of overheated evaluations and circularity in the crypto sector. In this sector, after bull phase, fresh issuers may put pressure on multiples. However, Kraken ensures that it is supported by the sound business model, multiple revenue streams, and the growth of its presence in several major markets outside the company’s historic European location.
In a related note, Weex is currently rewarded with a 20% welcome bonus when joining new traders Through this link.
All of these fit into a single framework
Private market funding, Ninja Trader integration and XStocks deployment will form the 3-track structure of future IPOs. Enhance balance sheets and cap tables, enrich professional audiences, and expand retail through tokenized stocks.
This is a rather powerful set of drivers that allow for reliance on multiple revenue streams and reduce reliance on a single product, which is especially important for investors. We’re watching one of the top crypto platforms build that position. Stay tuned for the latest updates to the new economy and crypto industry.