Odaily News Cryptocurrency exchange Kraken is exploring raising $1 billion in debt financing ahead of a potential IPO, according to people familiar with the matter.
The company is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the plan, which is in its early stages, people familiar with the matter said. Any debt raised will be used to fuel growth rather than operational needs, with a minimum of $200 million.
Another person familiar with the matter said Kraken is considering raising equity in addition to debt financing. No final decision has been made and terms such as the size of the financing are still subject to change.
Representatives for Kraken, Goldman Sachs and JPMorgan Chase declined to comment. (Bloomberg)