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.The company has also sought to expand its presence internationally, acquiring United […]