Deutsche Börse Group Takes Stake in Kraken for $200 Million

German exchange giant Deutsche Borse has acquired a stake in crypto exchange Kraken in a strategic investment worth $200 million, with the aim of deepening the partnership between the two companies focusing on regulated crypto, tokenised markets and derivatives, as well as enhanced liquidity for institutional clients across geographies.

The exchange group says the move highlights its commitment to developing a “comprehensive, hybrid market infrastructure” as part of its digital asset strategy. Last month DB announced that its post-trade segment, Clearstream, would offer access to crypto custody services.

The strategic investment will be made into Payward Inc, the unified infrastructure layer behind Kraken. The investment is made through the acquisition of shares in a secondary transaction, resulting in a 1.5% fully diluted stake in the company.

The partnership between Kraken and the exchange was first announced in December 2025 and it will span trading, custody, settlement, collateral management, and tokenised assets. The cooperation will “unlock a new range of enhanced products and services that deliver frictionless access to both ecosystems, creating a holistic experience for institutional clients”, the firms state.

The completion of the transaction is subject to customary closing conditions, including applicable regulatory approvals. Closing is expected in Q2.