Deutsche Börse and Kraken Kick Off Collaboration with 360T Link Up

Deutsche Börse and Kraken have entered into a partnership targeting the creation of infrastructure providing unified access across traditional and digital asset markets.

In the first phase of the partnership, Kraken will integrate directly with the exchange group’s OTC FX platform 360T, providing Kraken clients with access to FX liquidity and “significantly improving fiat on- and off-ramp efficiency while ensuring institutional-grade execution and reliability”.

The partnership will also leverage Kraken Embed to expand institutional crypto access across Deutsche Börse Group’s network. Together, the companies will develop white-label solutions enabling banks, fintechs, and other financial institutions to offer crypto trading and custody services to clients across Europe and the US. 

Subject to regulatory approvals, the two companies plan to make Eurex-listed derivatives available to trade on Kraken, as well as allow Deutsche Börse clients to trade cryptocurrencies and derivatives via Crypto Finance, as well as through Kraken’s exchange, to service enhanced end-client models, while leveraging Clearstream and Crypto Finance, both Deutsche Börse Group subsidiaries, for custody.

Elsewhere, the firms say they will also work together to integrate xStocks within 360X’s ecosystem, expanding the reach of the tokenised equity standards globally. In addition, the two firms will work to enable the distribution of securities held in custody at Clearstream in a tokenised form to Kraken’s client base. 

The partnership also establishes a framework for geographical access, they add, noting that Kraken will offer its US capabilities to Deutsche Börse Group’s clients seeking exposure to crypto and tokenised assets, while Deutsche Börse will provide its European infrastructure and services to Kraken’s global client base.

“Our partnership with Deutsche Börse Group demonstrates what happens when two infrastructures designed for scale and trust intersect,” says Arjun Sethi, co-CEO of Kraken. “By linking traditional and digital markets across a wide range of asset classes, we’re building a holistic foundation for the next generation of financial innovation: defined by efficiency, openness, and client access.”

Stephan Leithner, CEO of Deutsche Börse Group, adds, “This collaboration with Kraken is a great strategic fit for Deutsche Börse Group. It underscores our ongoing commitment to shaping the future of financial markets by combining the trust and resilience of our regulated infrastructure with the innovation of the digital asset ecosystem. Across our entire value chain this partnership will further enhance our support for institutional clients in the digital asset era and pave the way for digital capital markets.”