U.S. Kraken raises $800M in new funding…"Expansion into overseas markets"

U.S. cryptocurrency exchange Kraken has raised $800 million (about 1.2 trillion won) in new investment.

Kraken said on the 18th (local time) that it secured $800 million in new funding in two rounds to pursue its strategic roadmap. Specifically, in the first investment round, Jane Street, DRW Venture Capital, HSG and others invested $600 million.

In the second investment round, market maker (MM) Citadel Securities invested $200 million alone. Kraken said "(valued by Citadel Securities) the enterprise value is $20 billion" and "Citadel Securities will provide differentiated liquidity provision, risk management expertise, etc., through collaboration."

Kraken has been aggressively expanding its business recently. In May, it entered the futures trading market by acquiring derivatives trading platform NinjaTrader. Kraken also launched tokenized stock platform xStocks in June this year.

Kraken said, "Based on this additional investment, we plan to expand our global market entry and expand the product lineup," adding, "We will enter new markets in Latin America, Asia-Pacific, and Europe, the Middle East and Africa (EMEA)."