Kraken Files S-1 with SEC, Eyes Potential 2026 IPO

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According to Bitcoin.com, Kraken, also known as Payward Inc., has confidentially filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), marking the start of its potential initial public offering (IPO) process. The exchange submitted the filing on Nov. 19, 2025, without disclosing the number of shares or pricing range. The move follows an $800 million funding raise that pushed its valuation to $20 billion. Kraken plans to use the capital for global expansion and regulatory licensing, among other initiatives. The IPO could occur in 2026, pending SEC review and market conditions.

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