March 18 (Reuters) – Cryptocurrency exchange Kraken has put its multibillion-dollar initial public offering plan on hold, CoinDesk reported on Wednesday, citing two people with knowledge of the matter

The company is still weighing an IPO, but is unlikely to move ahead until market conditions improve, according to the report.

Reuters could not verify the report, while a Kraken spokesperson declined further comment.

The company confidentially filed for a U.S. IPO in November 2025 and was set to go public in the first quarter of 2026. 

Initially focused on crypto, the company has expanded across asset classes in recent months, including equities, with the rollout of commission-free trading.

(Reporting by Pritam Biswas in Bengaluru; Editing by Anil D’Silva and Jonathan Ananda)