The US-based CEX Kraken saw a significant 114% year-over-year revenue increase in Q3, with a corresponding 106% year-over-year growth in platform total trading volume.

BlockBeats News, October 26, the U.S. cryptocurrency exchange Kraken released its Q3 financial report, with revenue reaching $648 million, a year-on-year increase of 114%, hitting a historical high. Adjusted EBITDA was $179 million, and the profit margin rose to 27.6%.

In addition, the platform's total trading volume increased by 106% year-on-year to $561.9 billion, and platform assets grew by 89% to $59.3 billion. Kraken's user base is also expanding, with the number of registered accounts reaching 5.2 million by the end of this quarter.

Kraken stated that the growth was mainly driven by multiple acquisitions in 2025 and the ongoing IPO plan.

On September 26, Fortune magazine reported that Kraken raised $5 billion at a valuation of $15 billion, with increasing speculation that the company plans to go public with an initial public offering (IPO) at some point in 2026. (Cointelegraph)