Deutsche Börse Buys $200M Stake in Kraken
Deutsche Börse buys $200M stake in Kraken parent Payward, valuing the crypto exchange at $13.3 billion. This strategic investment deepens the partnership between the two companies.
Investment and Valuation
The $200 million investment grants Deutsche Börse a 1.5% stake in Payward, Kraken's parent company. This deal values Kraken at approximately $13.3 billion, below the $20 billion estimate from November 2025.
Integration of Traditional Finance and Crypto
The investment formalizes and deepens a partnership announced in December 2025, under which Kraken would be integrated with 360T, Deutsche Börse's foreign exchange trading platform. Thomas Book, member of the Deutsche Börse executive board, stated: "We want to create an integrated value chain, regardless of whether the asset is tokenized or fully digital."
Benefits of Integration
- Unified infrastructure for institutional clients
- Operates across both traditional and crypto assets
- No need to maintain parallel systems
Key Takeaways
- Deutsche Börse invested $200 million in Payward, valuing Kraken at $13.3 billion
- Kraken reported $2.2 billion in adjusted revenue during 2025
- The investment deepens the partnership between Deutsche Börse and Kraken
- Kraken became the first crypto company to gain access to the Federal Reserve's core payment system
Frequently Asked Questions
What is the significance of Deutsche Börse's investment in Kraken?
The investment signifies a deepening partnership between the two companies and a growing integration of traditional finance and the crypto market.
How will the integration of Kraken and 360T benefit institutional clients?
The integration will provide a unified infrastructure for institutional clients, allowing them to operate across both traditional and crypto assets without maintaining parallel systems.
