Crypto exchange Kraken has completed a $500 million funding round that values the company at around $15 billion, marking a key milestone as it gears up for an initial public offering in 2026. Major institutional investors participated in the round, reflecting growing confidence in the firm’s global crypto infrastructure and derivatives ambitions. The fresh capital will be deployed to expand licensing, enhance product offerings, and strengthen compliance ahead of the listing. This funding round underscores the push toward institutionalisation of the crypto‑exchange sector.