Kraken has secured $800 million in new funding — including a $200 million commitment from Citadel Securities — in a raise that values the crypto exchange at $20 billion and accelerates its push to fuse traditional financial markets with blockchain infrastructure.

The financing was completed in two parts. The primary tranche was backed by major institutional investors, including Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital. Citadel Securities provided the additional $200 million in a follow-on investment, underscoring growing cross-market alignment between digital assets and conventional market-making firms.

Founded in 2011, Kraken operates a fully regulated trading platform spanning spot and derivatives markets, tokenized assets, staking products, and payments. Its vertically integrated stack — encompassing custody, clearing, matching, settlement and wallet services — enables rapid deployment of new services while maintaining strict compliance standards.

“Our mission has always been simple: build a platform where anyone can trade any asset, anytime, anywhere,” said Kraken co-CEO Arjun Sethi. He noted that participation from firms such as Citadel Securities and Jane Street signals broad institutional conviction in Kraken’s infrastructure-driven strategy.

The latest raise represents a major milestone for the company, which had previously taken in only $27 million of primary capital. Despite its lean funding history, Kraken generated $1.5 billion in revenue in 2024 and had already surpassed that figure by the third quarter of 2025.

Over the past year, the exchange has expanded aggressively into multi-asset trading. It acquired NinjaTrader to launch U.S. futures products, introduced tokenized equities, and rolled out KRAK — a global application spanning payments, savings and investments.

Citadel Securities President Jim Esposito described Kraken as a central player in “the next chapter of market innovation,” adding that the firms will collaborate in areas such as liquidity provision and risk management — domains where Citadel Securities has long influenced traditional markets.

Kraken said the new capital will support expansion across Latin America, Asia-Pacific and EMEA, alongside continued development of trading tools, institutional products, staking offerings and payment services. The company aims to serve growing demand for regulated access to digital and tokenized assets as global markets converge on blockchain-based infrastructure.