Kraken to Prepare a Private Listing at $4B Valuation

The company sent letters to the largest customers, which told about a new investment feature
12 December 2018   633

The well-known US cryptocurrency exchange Kraken is considering the possibility of a private placement of securities, reports Finance Magnates.

The company sent letters to the largest customers, which told about a new investment opportunity. In particular, Kraken users are invited to participate in an online survey before receiving additional information about private placement.

Representatives of Kraken emphasize that the exchange does not particularly need financing. However, given the bear market and "significant reserves", Kraken is considering various opportunities for new acquisitions.

In letters to customers it is noted that the placement will be carried out with a company valuation of $ 4 billion. At the same time, the minimum amount of investment in Kraken shares is $ 100 thousand.

Kraken also intends to assess each investor for compliance with the criteria for participation in the placement. Interested users must respond to the Kraken offer before December 16th.

Founded in July 2011, the Kraken exchange is currently in 27th place in terms of trading volume.

Private placement involves the distribution of securities among a predetermined number of investors. In case of private placement, no public offer is made to buy securities to anyone.

As a rule, such an issue of securities is easier to organize, it causes less legal difficulties and practically does not require marketing costs. Company also doesn't need to disclose financial and business information to an unlimited number of individuals, including competitors.

On the other hand, as a rule, private placement allows you to collect less money than public.

Kraken to List OmiseGO and PAX Gold

Trading will be available in OMG/USD, OMG/EUR, OMG/XBT, OMG/ETH, PAXG/USD, PAXG/EUR, PAXG/XBT, PAXG/ETH pairs shorlty after both acceptance
29 October 2019   356

The popular bitcoin exchange Kraken announced the listing of two new assets - OmiseGO (OMG) and PAX Gold (PAXG).

Acceptance of deposits for both assets starts on Tuesday, October 29, at 13:30 UTC. Trading pairs OMG / USD, OMG / EUR, OMG / XBT, OMG / ETH, PAXG / USD, PAXG / EUR, PAXG / XBT, PAXG / ETH will be launched shortly afterwards.

According to the exchange, support for OMG and PAXG will be implemented on the main Kraken platform, as well as on Kraken Pro and the OTC platform.

Futures and margin trading at this stage are not yet available.