Kraken $10 Million Equity Sale With BnkToTheFuture Seeks to Democratize Access

Kraken $10 Million Equity Sale With BnkToTheFuture Seeks to Democratize Access


United States cryptocurrency exchange Kraken is offering equity to users in a fundraiser that raised over $6 million in its first day, statistics confirmed on May 21.

Kraken, which is one of the world’s oldest exchanges, is using Cayman Islands-based platform BnkToTheFuture to offer equity to vetted investors. These, it said in an accompanying marketing email seen by Cointelegraph, can be any Kraken user, subject to a minimum purchase of $1000.

At press time, Kraken had raised just over €6.04 million ($6.76 million) from almost 300 investors, taking it to two-thirds of its total investment goal of €9.13 million ($10.18 million).

The appetite for Kraken’s shares reflects the market optimism currently pervasive within cryptocurrency as bitcoin (BTC) continues its 2019 bull run.

On the BnkToTheFuture listing, Kraken described itself as having over four million clients, while 2018 volumes topped $85 billion.

“We are always looking for ways to democratize access to our equity, allowing more of our valued clients to become valued investors,” officials added in a Twitter post on May 20. The post noted:

“To that end, we partnered with @BankToTheFuture to create an opportunity to invest in Kraken.”

Kraken has sought to preempt the next wave of interest in crypto exchanges as competitor platforms — notably embattled Bitfinex — also seek to accrue funds.

Last week, the exchange argued against proposed crypto regulations in Canada, while CEO Jesse Powell has also been a vocal opponent of U.S. regulatory moves. Read more




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