Popular American bitcoin exchange Kraken is planning to hold a private placement of its securities. This writes the Finance Magnates, citing a letter sent out to its largest customers.
According to the letter, clients are encouraged to take online survey before receiving additional information. The exchange reports that it needs funding, but in light of the current market situation and its own “significant reserves,” she sees opportunities for expansion.
The company also noted that investors offered to buy its securities based on valuation of $4 billion, the Minimum investment amount is $100 000.
“Transactional process will be organized through a third-party service that will verify the accreditation of investors, the transmission of transaction documents and transactions associated with the investment,” — said in the message.
Kraken intends to assess each investor in compliance with the criteria of the company. Those who received the letter, the interested customers have to answer questions until 16 December. Further details will be disclosed soon, in the meantime, the exchange shall consider third-party funding.
As noted by the Finance Magnates, the company had previously estimated much lower than its closest competitors. The sum of $4 billion to some it may seem overstated. The company recognizes that the cryptocurrency industry is going through hard times, but also States that in such circumstances remains profitable. In recent months it has strengthened its team and upgraded products.
At the time of publication Kraken is the 27th largest bitcoin exchange by daily trading volume, according to CoinMarketCap.
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