(dpa-AFX) – California-based bitcoin exchange Kraken Exchange is considering going public in 2022, reported CNBC on Thursday.

Established in 2011, Kraken enjoyed a substantial first quarter in 2022, with a total subscriber base breaching 6 million.

It is the fourth-largest crypto exchange by trading volume, according to CoinMarketCap data.

The exchange benefited significantly from a recent surge in Bitcoin price, which touched 60,000 dollars in March 2021.

The company is also lined up for another round of funding to raise its value to 20 billion dollars.

It is understood that the growth of Ether, a blockchain currency of Ethereum, the demand of NFT, and the engagement of institutional investors have concocted the rise of cryptocurrencies beyond 2 trillion dollars for the first time.

In an interview conducted by CNBC, founder and CEO Jesse Powell said: “The first quarter just completely blew away the entirety of last year. We beat last year’s numbers by the end of February. The whole market has really just exploded.”

“We’re looking at being able to go public sometime next year. It would probably be a direct listing, similar to Coinbase,” added Powell.

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