The exchange also announced a partnership with investment platform Bnk to the future. This partnership will enable interested and accredited investors to buy its shares.
Investors who are interested in purchasing the company’s stocks can do so with a minimum amount of $1,000. Interested investors will be able to purchase stocks till June 20th. Kraken announced in a tweet, that their main interest is to democratize access to equity.
“We are always looking for ways to democratize access to our equity, allowing more of our valued clients to become valued investors. To that end, we partnered with @BankToTheFuture to create an opportunity to invest in Kraken”
Kraken already raised $6.8 million
At press time, Kraken has already raised $6.8 million which is more than its minimum investment goal of $6.2 million. This amount was raised in just 24 hours. Currently, 326 investors have participated in the fundraising. The company is looking to raise $10.2 million.
Kraken is one of the oldest cryptocurrency exchanges available today. It lists 24 digital currencies and offers 74 trading pairs. The company claims it handled about $85 billion worth crypto trades in 2018, the year famous for its crypto winter.
Kraken not producing details of how it will utilize the funds
The San Francisco-based exchange, offering shares to both large and small investors, did not disclose how it will make use of the raised funds. The exchange also did not publish the details in its financial reports.
This is not the first time the exchange is trying to get funds from the public. Last year, it sought funds from its top clients. The bearish market has placed a lot of established crypto businesses under pressure. Very much like Kraken, several digital asset exchanges have been forced to seek funds through other platforms.
This year, Bithumb’s operator received $200 million from a Japanese blockchain fund while the controversial crypto exchange, Bitfinex, also recently raised $1 billion by distributing native tokens in a private sale.