Kraken CEO Jesse Powell has revealed that the crypto commutation could go public before the end of 2022.

Powell said this during an interview with Bloomberg Tv, stating that the move would exist a natural progression for the company in its mission to "bring crypto to the world."

According to Powell, Kraken is currently doing "prep piece of work" toward going public in the next 12 to 18 months. However, the exchange CEO did not give a target valuation for the upcoming float.

Earlier in June, Cointelegraph reported that Kraken was reconsidering earlier plans to pursue a direct list path toward becoming a public company, given the lackluster performance of Coinbase's launch back in mid-Apr.

Indeed, in March, a Kraken spokesperson claimed that the visitor was "likewise big" to go public via a merger with a special-purpose acquisition company (SPAC).

With the SPAC and direct listing route probably off the table, Powell's latest announcement might hateful Kraken is poised to pursue an initial public offering.

Related: Kraken rethinks direct listing plan following Coinbase'south lackluster performance

Kraken recently secured backing from RIT Upper-case letter Partners, a $5.three billion investment trust. The fourth-largest exchange by trading volume, according to CoinMarketCap data, is too reportedly set to raise additional majuscule to put its valuation north of the $10 billion mark.

With over 6 one thousand thousand customers and an operating presence in about 190 countries, the 11-yr-old exchange is as well looking to expand its reach, with Bharat being touted equally a possible destination. Kraken is among one of three major exchanges looking to service Republic of india'south estimated 15 meg cryptocurrency investors even amid the current regulatory uncertainty in the country.