Kraken, a San Francisco-based crypto exchange, is reportedly considering a final funding round before going public, according to sources familiar with the matter. The exchange is looking to raise over $100 million by the end of the year and is seeking a key company to join its board to help facilitate a successful IPO as early as next year.

While talks with potential investors have been informal and focused on terms and valuations, Kraken has been contemplating an IPO for some time. Previous attempts were thwarted by regulatory issues with the SEC and market downturns in the crypto industry.

The news of Kraken’s potential IPO comes at a time of a bullish market, with crypto prices expected to reach new highs and the exchange projected to generate $1 to $2 billion in revenue this year. However, Kraken has not confirmed any details regarding its fundraising or IPO plans, stating that the focus remains on advancing the global adoption of crypto.

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