According to Bloomberg, citing sources familiar with the matter, Kraken is exploring debt financing of $1 billion before a potential IPO.Sources said the company is working with Goldman Sachs and JPMorgan Chase on this plan, which is currently in the early stages. Any debt raised will be used to drive company growth rather than operational needs, with a minimum of $200 million potentially raised.

Another source indicated that in addition to debt financing, Kraken is also considering equity financing. No final decision has been made, and the terms, including the financing scale, may still change.Representatives from Kraken, Goldman Sachs, and JPMorgan Chase declined to comment.