Crypto exchange Kraken has unveiled Kraken Launch, a new platform designed to give retail investors direct access to early token sales in a regulatory-compliant manner.
The initiative, announced in partnership with fundraising platform Legion, marks one of Kraken’s most ambitious steps yet toward reshaping how digital assets are introduced to the market.
Kraken Launch is intended to change that dynamic by offering a model it describes as “IPO-style” token sales, ensuring greater transparency, equal access, and regulatory clarity.
For more than a decade, one of the challenges in crypto has been the lack of fair access to token launches. Retail users often only gain exposure once tokens begin trading openly, long after early backers and insiders have secured allocations.
According to the company, participants will have access to all necessary information, free from hidden allocations or insider deals, while enjoying the security and compliance infrastructure of the Kraken exchange.
The product arrives as Europe’s Markets in Crypto-Assets (MiCA) framework begins to take effect, with Kraken emphasizing that all sales conducted through the platform will adhere to clear regulatory requirements.
Kraken’s second-quarter figures showed a similar trend. Revenue climbed 18% year-on-year to $411.6 million, though adjusted EBITDA fell 7% to $79.7 million as weaker volumes followed a strong first quarter.
In its Q1 2025 update, the exchange disclosed $472 million in revenue and $187 million in adjusted EBITDA, a 19% year-on-year increase in revenue and a 1% rise in EBITDA.
“Kraken is building the foundation of tomorrow’s financial infrastructure with crypto at its core,” said Brett McLain, the exchange’s Head of Payments and Blockchain.
The launch of Kraken’s new product also comes amid reports that the company is preparing to raise $500 million at a $15 billion valuation ahead of a long-anticipated initial public offering scheduled for early 2026.
Total exchange volume reached $186.8 billion, up 19% year-on-year but down 11% from Q1. Assets on the platform rose sharply, increasing 47% over the year to $43.2 billion by June.
