Kraken, legally named Payward, Inc., is a US-based cryptocurrency exchange founded in 2011. Initially offering Bitcoin, Litecoin, and Euro trades in September 2013, it has since expanded to facilitate trading in stocks, futures, and ETFs in most US states. Kraken was the first cryptocurrency company to obtain a bank charter. In 2025, its quarterly trading volume reached $207 billion, ranking it as the world's fourteenth-largest crypto exchange. The platform supports over 590 cryptocurrencies, 13 stablecoins, and 7 fiat currencies, including USD, EUR, GBP, CHF, CAD, AUD, and JPY. BTC/USD is the most actively traded pair.
Dave Ripley is the CEO of Kraken. In November 2024, Kraken appointed Arjun Sethi as co-CEO and Stephanie Lemmerman as CFO. However, recent reports indicate that Stephanie Lemmerman has been dismissed from her CFO position as of February 2026. Robert Moore, previously the vice president of business expansion, has purportedly taken over the CFO role. Kraken is preparing for its initial public offering (IPO) on the U.S. market. In 2025, Kraken's revenue soared to $2.2 billion, a 33% increase driven by strong performance across trading and asset-based businesses. The company's adjusted EBITDA jumped by 26% to $530.6 million. Total transaction volume reached $2 trillion, a 34% increase, and assets on the platform rose by 11% to $48.2 billion. Recent moves include expanding tokenized assets trading on Deutsche Börse's 360X platform.
