SAN FRANCISCO / LONDON (IT BOLTWISE) – Kraken, one of the oldest crypto exchanges in the US, reports impressive revenue growth of 114% in the third quarter of 2025. With revenue of $648 million and an expanded product portfolio, the company is preparing for a possible IPO in 2026.
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Kraken, one of the oldest crypto exchanges in the US, has posted an impressive 114% year-over-year revenue growth in the third quarter of 2025. The company posted its strongest financial performance to date, with revenue of $648 million and adjusted EBITDA increasing to $178.6 million. Profit margins increased by nine percentage points to 27.6%, highlighting the efficiency and profitability of the platform.
Trading volume on the platform increased 106% year-on-year to $561.9 billion, while assets on the platform grew 89% to $59.3 billion. These numbers reflect user confidence in the platform, which recorded 5.2 million funded accounts by the end of the quarter. These developments are the result of a series of acquisitions and new product launches in 2025.
Kraken recently launched its derivatives division in the US, offering traders access to CME-listed cryptocurrency futures and expanding product offerings beyond the spot market. In September, Kraken entered proprietary trading by acquiring Breakout and announced a tokenized securities platform that offers European investors access to tokenized representations of U.S. stocks.
Preparations for a possible 2026 IPO are well underway after Kraken raised $500 million in September at a $15 billion valuation. These moves show that Kraken is aiming not only for growth but also for a stronger market presence. Improved regulatory clarity in the US provides the company with the opportunity to continue its expansion and enter new markets.
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