- 21 June 2021
- Posted by: Cryptovalues
- Category: Companies, Cryptovalues News, exchange, World News
Coinbase’s IPO will not be unique in this industry.
We previously mentioned the possibility that Kraken could be the next exchange to land on Wall Street through the front door.
We are talking about one of the main American cryptocurrency exchanges, which has confirmed this possibility through its CEO Jesse Powell, with the start of the implementation of all the activities and procedures that lead up to such an important operation.
The objective is to be ready for the second half or at most for the end of 2022.
A direct listing through IPO is assumed, even if the details have not yet been defined.
Kraken in addition to its brokerage activities with over 6 million customers, which allow it to be the fourth largest exchange by trading volume, has been participating for some time in the staking of ETH for the Ethereum 2.0 Beacon Chain, offering the possibility to immobilize the tokens indefinitely and receive earnings in return.
The company has been dealing with investors for some time now to allow it to raise funds in order to get closer to a value of about $20 billion, which will not be the current $60 billion of Coinbase, but is an absolutely considerable sum.
And someone among the Institutions has figured out the potential of the business, so that they have materialized the negotiation to acquire a stake in the exchange: we are talking about the $5.2 billion investment trust “RIT Capital Partners”.
The London-based trust, formerly known as Rothschild Investment Trust, is linked to the British Rothschild family RIT Capital Partners, and is a British investment fund founded in 1961 by the fourth Rothschild baron, Jacob Rothschild that invests in equities and special projects.
Listed on the London Stock Exchange, it has seen its share price reach an all-time high a few days ago at over £2,500, with growth in the first few months of this year of around 20%.
The size of the stake is not known at the moment, but it represents a further approach of traditional finance to digital currencies.