Deutsche Börse Invests $200 Million in Kraken Parent Payward to Expand Crypto Push
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Deutsche Börse has acquired a $200 million minority stake in Payward Inc., Kraken's parent company, valuing the crypto exchange at $13.3 billion. The investment deepens their strategic partnership and expands their hybrid market infrastructure for crypto and traditional assets.
Deutsche Börse has invested $200 million in Payward Inc., the parent company of crypto exchange Kraken, acquiring a 1.5% stake. The deal values Kraken at $13.3 billion and is expected to close in Q2 2026 pending regulatory approval. This investment strengthens their partnership, first announced in December 2025, to create a hybrid market infrastructure for institutional clients. The collaboration will unify custody, settlement, and asset tokenization services. Kraken is preparing for a US public listing, having filed a confidential draft S-1 in November. The company has also received key regulatory approvals, including access to the Federal Reserve's core payments system.
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