Kraken's co-CEO Arjun Sethi stated on Tuesday that the cryptocurrency exchange's confidential initial public offering (IPO) filing is still active, despite earlier reports suggesting a pause in the process. In November, Kraken filed for an IPO after securing $800 million in funding, boosting its valuation to $20 billion. Although details regarding share count and pricing remain undecided, Sethi confirmed the existence of a confidential filing during the Semafor World Economy 2026 conference. He refrained from commenting on the reported pause but emphasized that investors seek access to advanced financial tools similar to those used by major firms like Citadel and JPMorgan Chase & Co. (NYSE:JPM). This news follows Deutsche Börse Group's investment of $200 million in Payward, Inc., Kraken's parent company, acquiring a 1.5% stake, which aims to enhance connections between traditional financial markets and the digital asset ecosystem. Additionally, Kraken has become the first cryptocurrency company in the U.S. to secure direct access to Fedwire, the core payment infrastructure for thousands of U.S. banks and credit unions.