Kraken $10 Million Equity Sale With BnkToTheFuture Seeks to Democratize Access
The month-long sale has already secured almost 70% of its goal in a period of less than 48 hours.
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.”
The company has also sought to expand its presence internationally, acquiring United Kingdom futures provider Crypto Facilities earlier this year in a move which produced significantly heightened interest in its products.
Interested parties will be able to consider investing in the equity deal through June 20.