Crypto exchange Kraken said Tuesday it was valued at $20 billion during an $800 million funding round, as digital market firms continue to draw investor focus.

The digital asset sector has benefited from U.S. President Donald Trump's pro-crypto stance and his administration's push for friendly regulations.

The primary financing tranche was led by institutional investors such as Jane Street, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital, co-founded by Kraken's co-CEO Arjun Sethi.

Citadel Securities contributed $200 million in strategic investment as the second tranche.