Citadel Securities Puts $200M Into Kraken as Exchange Closes $800M Raise

Kraken has raised $800 million in new capital, including a $200 million investment from Citadel Securities, in a deal that values the crypto exchange at $20 billion and strengthens its push to bridge traditional financial markets with blockchain infrastructure.

The fundraising was completed in two phases. The main tranche drew participation from major institutional players such as Jane Street, DRW Venture Capital, HSG, Oppenheimer Alternative Investment Management and Tribe Capital. Citadel Securities followed with its own $200 million commitment, giving the exchange a powerful ally from the world of traditional market making.

Founded in 2011, Kraken runs a regulated global trading platform offering spot and derivatives markets, tokenized assets, staking tools and payments. The company’s vertically integrated model — which includes custody, clearing, matching, settlement and wallet infrastructure — allows it to roll out new financial products quickly while maintaining regulatory discipline.

“Our goal has always been clear: build a platform where anyone can trade any asset, anywhere, at any time,” said Arjun Sethi, Kraken’s co-CEO. He noted that the backing from Citadel Securities and Jane Street reflects confidence in Kraken’s infrastructure-first approach and long-term strategy.

The raise marks a significant milestone for the exchange, which had previously taken in only $27 million in primary funding. Despite limited outside capital, Kraken generated $1.5 billion of revenue in 2024 and had already exceeded that figure by the third quarter of 2025.

The company has aggressively expanded its multi-asset capabilities over the past year. It acquired NinjaTrader to support U.S. futures trading, introduced tokenized equities, and launched KRAK — a global app for payments, saving and investing.

Citadel Securities President Jim Esposito described Kraken as a crucial player in the “next phase of digital evolution across markets.” The two firms plan to collaborate on liquidity provision and risk management, areas where Citadel Securities has long shaped the structure of traditional finance.

Kraken said the fresh capital will fuel its expansion across Latin America, Asia-Pacific and EMEA, while supporting the rollout of new institutional products, trading tools, staking solutions and payment features. The exchange aims to meet rising global demand for regulated, seamless access to digital and tokenized assets.