According to a recent report by Reuters, cryptocurrency exchange Kraken has secured fresh capital from such big names as Apollo Global Management and Oppenheimer.
The report, which cites sources familiar with the matter, says that the exchange giant is now valued at $15 billion following the September funding round.
Fortune initially broke the news last month, but Fortune has revealed the names of
IPO plans
As reported by U.Today, the popular cryptocurrency exchange is currently in the process of preparing for its upcoming initial public offering (IPO) in the US.
The company is currently in talks to secure additional funding that would boost its valuation to as much as $20 billion ahead of the highly anticipated public debut.
Earlier this year, rival cryptocurrency exchange Gemini also went public, but its debut was rather underwhelming.
Record-breaking Q3 revenue
Earlier this month, the exchange also reported record-shattering Q3 revenue, which has more than doubled to nearly $650 million.
The popular trading platform has also logged a substantial increase in transaction volume, which has increased by 23%.
Yet another acquisition
Earlier this month, the company also purchased the Small Exchange from IG Group for a total of $100 million.
This came after the exchange giant acquired futures trading platform NinjaTrader for a staggering $1.5 billion earlier this year.
As Fortune notes, professional and institutional customers have always been the exchange's "bread and butter."
Dan Burgin
Vladislav Sopov
U.Today Editorial Team