Kraken has filed for an initial public offering (IPO) with the SEC after securing $800 million in a funding round that values the cryptocurrency exchange at $20 billion. The funding was led by Citadel Securities, which contributed $200 million. Kraken intends to use the capital to expand into new markets and enhance its payment features. The move positions Kraken among a growing list of public crypto exchanges, such as Coinbase, Gemini, and Bullish. However, the company will only proceed with the IPO upon receiving SEC approval and if market conditions are deemed favorable.