Kraken, one of the longest-running crypto exchanges, has taken a major step toward going public, filing for a U.S. initial public offering (IPO) through its parent company, Payward, Inc. The draft S-1 registration statement was submitted to the Securities and Exchange Commission (SEC), formally placing Kraken in the IPO pipeline. The confidential filing follows an $800 million fundraising round completed on Tuesday, which valued Kraken at $20 billion.