Kraken Rolls Out ‘IPO-Style’ Token Sales in MiCA-Compliant Launch on Legion

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 ￰3￱ 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 ￰4￱ Launch Targets Retail Access to Early-Stage Tokens Under EU Rules For more than a decade, one of the challenges in crypto has been the lack of fair access to token ￰5￱ users often only gain exposure once tokens begin trading openly, long after early backers and insiders have secured ￰6￱ 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.

We’re partnering with @Legiondotcc to launch Kraken Launch, a new platform for exclusive token ￰7￱ ￰8￱ ￰9￱ by Kraken’s 14 years of ￰10￱ sale coming soon ￰0￱ but wait, there’s more ￰11￱ — Kraken (@krakenfx) September 18, 2025 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 ￰12￱ 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. “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 ￰13￱ added that the partnership with Legion would help democratize token sales by aligning communities with project builders, setting what he called a “higher standard” for the next generation of fundraising.

Legion, which has built a reputation for its compliance-focused fundraising technology, will serve as the backbone of the ￰14￱ system evaluates participants based on on-chain history, social activity, and developer contributions, ensuring that a portion of token allocations go to those who have meaningfully contributed to the ￰15￱ rest of the sales will be open on a first-come, first-served basis, both on Kraken Launch and ￰16￱ O’Connor, co-founder of Legion, framed the partnership as a step toward transforming capital markets. “The next Figma or Reddit won’t IPO. It’ll launch to its community on-chain,” he ￰17￱ announcement comes as Kraken continues to report strong financial performance despite market ￰18￱ 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 ￰19￱ volumes grew 29% compared with the previous year, while funded accounts increased by 26%.

Kraken’s second-quarter figures showed a similar ￰20￱ 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 ￰21￱ exchange @krakenfx reported $411.6 million in revenue for the second quarter, marking an 18% year-on-year increase. #Kraken #Crypto ￰1￱ — ￰22￱ (@cryptonews) July 31, 2025 Total exchange volume reached $186.8 billion, up 19% year-on-year but down 11% from ￰23￱ on the platform rose sharply, increasing 47% over the year to $43.2 billion by ￰24￱ 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.

Co-CEO Arjun Sethi has said the raise could help solidify investor confidence before the ￰25￱ Launches Tokenized Stock Trading for European Investors Crypto exchange Kraken has introduced xStocks, a tokenized securities trading product aimed at giving European investors access to leading ￰26￱ and exchange-traded funds (ETFs). The service, launched on September 10 through Kraken’s PEDSL-CY entity , is restricted to EU clients who pass an appropriateness test or qualify as professional ￰27￱ are excluded, as xStocks are not registered under the Securities ￰28￱ in May, xStocks operate as tokenized certificates that mirror the market price of real-world securities, issued on-chain as SPL or BNB ￰29￱ is backed 1:1 by the underlying asset and issued by Jersey-based Backed Assets (JE) Limited. @Krakenfx launches xStocks — tokenized securities trading for EU investors, offering access to top ￰30￱ & ETFs on-chain. #Kraken #Europe ￰2￱ — ￰31￱ (@cryptonews) September 10, 2025 Holders gain exposure to price movements but do not receive shareholder rights such as voting or ￰32￱ launch, Kraken listed 60 assets, including Tesla, Apple, and ￰33￱ move follows increasing regulatory scrutiny of tokenized ￰34￱ August, representatives from Kraken met with the ￰35￱ and Exchange Commission to discuss tokenized trading frameworks, disclosure standards, and investor ￰36￱ worldwide have warned that tokenized stocks often lack the safeguards present in traditional equity markets, despite their 24/7 ￰37￱ has also been expanding its tokenization ￰38￱ July, i t teamed up with Backed Finance and BNB Chain to extend xStocks as BEP-20 tokens, enabling broader access within decentralized ￰39￱ rollout shows Kraken’s strategy to bridge traditional finance and ￰40￱ bringing equities on-chain, the exchange is positioning tokenized securities as a new frontier in digital asset trading.