tKRAK
Tokenised Economic Right (not equity) to potential future liquidity from WLTH’s investment in Kraken, one of the world’s leading cryptocurrency exchanges. Slices are not securities of, nor endorsed by, the underlying company. They are unsecured contractual rights against WLTH. Review the full Terms & Conditions before purchasing.
Category: Cryptocurrency Exchange
Opportunity Type: Tokenised Economic Right
Reference Valuation: $17.7B
Company Overview
Kraken, founded in 2011, is one of the longest-standing and most trusted digital asset exchanges. Built on a foundation of security, regulatory alignment, and transparency, Kraken has consistently positioned itself as the “safe haven” in crypto trading.
The platform provides:
Spot trading for 200+ cryptocurrencies.
Derivatives & futures for advanced traders.
Staking services for both retail and institutions.
Institutional solutions, including OTC trading and custody.
Kraken serves over 10M clients in 190+ countries, operating under some of the strictest compliance standards in the industry. Unlike many competitors, Kraken has a proven history of resilience during market downturns and scandals, emerging stronger each cycle.
The Problem
Trust Erosion → Collapses like FTX and Celsius undermined confidence in exchanges.
Regulatory Scrutiny → Unlicensed or opaque platforms struggle under tightening global oversight.
Institutional Hesitancy → Large investors demand compliance, transparency, and security.
The Solution
Kraken’s approach has set it apart for over a decade:
Security-First Infrastructure → Never hacked; regular Proof-of-Reserves audits.
Regulatory Alignment → Licensed in multiple jurisdictions, including Europe and the U.S.
Global Reach → 10M+ users in 190+ countries.
IPO Potential → Kraken has signalled interest in going public, offering a clear path to liquidity.
Market Opportunity
Global Crypto Market projected to surpass $5T in value by 2030.
Institutional Adoption is accelerating as clearer regulatory frameworks emerge.
Diversified Revenue Streams (spot, futures, staking, custody) position Kraken as a core on-ramp for mainstream investors.
IPO Readiness gives investors a potential near-to-mid-term exit route.
Traction & Validation
Valuation → $10.8B (last private round, 2022).
Scale → 10M+ clients globally.
Liquidity → Regularly ranked among the top exchanges for trading depth and volume
Reputation → Survived multiple bear markets and industry failures without loss of user funds.
Intellectual Property & Strategic Assets
Proprietary trading and custody infrastructure.
Industry-leading Proof-of-Reserves audits, setting transparency benchmarks.
Regulated entities in the U.S., EU, and Asia.
Strong brand reputation as one of the most compliant exchanges.
Business Model & Financial Highlights
Trading Fees (Core Revenue) → Spot, futures, and margin trading.
Staking Revenue → Fees earned on delegated staking services.
Institutional Revenue → OTC desk, custody, and liquidity services.
Potential IPO → Provides clear long-term liquidity for investors.
Competitor Analysis
Company
Focus
Stage
Valuation
Kraken
Multi-product crypto exchange. Spot, futures, staking, custody. Security & compliance focused.
Growth / Private
~$10.8B (2022)
Coinbase
U.S.-listed public exchange. Retail + institutional crypto trading.
Public
~$60–70B peak, ~$40B (2025)
Binance
Largest exchange by volume. Global scale but regulatory challenges.
Mature (Private)
~$15–20B est.
OKX
Asia-focused exchange with derivatives strength.
Growth
N/A (Private)
⚡ Key Differentiator: Kraken is one of the only global exchanges with a decade-long unbroken record of security and compliance. It’s a rare mix of trust and growth potential in crypto.
Team
Jesse Powell — Co-Founder (early crypto pioneer, industry advocate, stepped back from CEO role in 2022).
David Ripley — CEO (joined 2016, scaled Kraken’s global operations, CEO since 2022).
Leadership team includes veterans from Coinbase, CME Group, Circle, and top fintech firms.
Disclaimer
No affiliation. Nominative reference only.
The underlying company is entirely unaffiliated with this offering, with Metamasters DAO Corp, and with the associated Slices. Specifically:
No endorsement or authorisation. The underlying company has not reviewed, approved, authorised, endorsed, sponsored, or consented to any aspect of this token, marketing material, or structure.
No participation or cooperation. The underlying company and its officers, directors, shareholders, and employees are not involved, directly or indirectly, in structuring, issuing, marketing, managing, servicing, or redeeming the Slices.
No contractual or economic relationship. Purchasing a Slice does not give you any equity, debt, contractual claim, option, warrant, or other right against the underlying company. Your sole counter-party is WLTH.
No obligations on the underlying company. It owes you no fiduciary duty, payment, or disclosure and will have no liability to you in connection with your purchase.
No effect on the underlying company’s securities. Issuing Slices does not affect its capitalisation, shareholder base, voting power, or governance.
Trademark usage. Any mention of the underlying company’s name is strictly nominative. WLTH claims no ownership and implies no sponsorship.
Information limitations. All company-related data herein are drawn from public sources WLTH believes to be reliable.
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