Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Key Notes
- The perpetual trading platform operates without expiry dates and can be accessed by eligible traders in undisclosed markets.
- Strategic product launches including xStocks aim to strengthen Kraken's position before its planned 2026 IPO fundraising efforts.
- Previous IPO attempts in 2021-2022 were delayed, with founder Jesse Powell cleared of FBI investigation charges in 2023.
Kraken, a US-based cryptocurrency exchange, announced the launch of its “Perps” perpetuals trading product on Sept. 11, allowing users to invest in cryptocurrency futures by predicting price movements.
According to the firm’s official website, Perps allow users to trade on whether a coin’s price will go up or down, without owning the actual asset. Trades or predictions made through the service don’t have an expiry date and can be exited at any time.
Perps is available for more than 300 assets including Bitcoin BTC $115 370 24h volatility: 1.3% Market cap: $2.30 T Vol. 24h: $44.27 B to eligible traders in select markets — though it remains unclear exactly which markets the service will eventually roll out to. Kraken didn’t immediately respond to requests for clarification from Coinspeaker.
The launch of Perps follows closely on the heels of the Sept. 10 launch of Kraken’s xStocks service in the greater European market. As Coinspeaker recently reported, xStocks, which allow clients to trade tokenized versions of real-world assets such as tech stocks, are now compliant with EU regulations and available to all members.
Strategic Move Ahead of Planned 2026 IPO
The launch of both Perps and xStocks is seen as part of a broader corporate strategy ahead of the exchange’s potential IPO in 2026. The firm is reportedly seeking $500 million in new funding ahead of the expected public offering, and the launch of new derivatives and services could serve as a means to attract potential investors.
Kraken previously explored an IPO in 2021. As Coinspeaker reported at the time, the firm’s founder, Jesse Powell, said the exchange would consider looking into the IPO process for 2022. That timeframe came and went without further action.
Powell was later the target of an FBI raid in 2023, where several devices were seized. The law enforcement agency later ended the investigation without any charges and quietly closed the case after no evidence of wrongdoing was found.
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