RIT Capital Partners acquires stake in Kraken

The investment fund RIT Capital Partners has become a co-owner of the cryptocurrency exchange Kraken. This is stated in a note sent to investors.

The amount invested by the fund is not disclosed in the document.

RIT Capital Partners’ interest in the platform is tied to Kraken’s plans to become a public company and conduct a direct listing in 2022.

The note also states that Kraken’s rival – Coinbase – in Q1 2021 earned a record $1.8 billion, which exceeds its profit for all of 2020.

The market capitalization of RIT Capital Partners, founded by Lord Jacob Rothschild, stands at $5.3 billion.

In April, plans for Kraken go public were confirmed by co-founder and CEO Jesse Powell.

He also said that the platform is in talks with investors about a new round of financing. Following that, the exchange’s valuation could rise to $20 billion.

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