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Kraken-Backed KRAK Acquisition Eyes $2–10B Stablecoin and DeFi Targets After $345M IPO
KRAK Acquisition Corp., a SPAC associated with crypto exchange Kraken, raised about $345 million in an IPO in January and is now evaluating crypto-native acquisition targets valued between $2 billion and $10 billion. The firm is focused on stablecoins, DeFi, tokenization, and digital payment infrastructure, aiming to help mid-sized and emerging companies access public markets while deepening Kraken's strategic ties across the digital asset ecosystem.