Deutsche Börse invests $200 million in Kraken parent Payward
Deutsche Börse said it will invest $200 million in Kraken’s parent company for a fully diluted stake of 1.5%, subject to regulatory approval.
Deutsche Börse said Tuesday it will invest $200 million in Payward, the parent company of crypto exchange Kraken, deepening a partnership between the two companies as the German exchange operator expands further into digital assets.
The investment, which is subject to regulatory approval and is expected to close in the second quarter, will give Deutsche Börse a 1.5% fully diluted stake in Kraken through a secondary share purchase.
The investment is another sign of growing interest in the cryptocurrency industry from traditional finance (TradFi) institutions. The deal is part of the Frankfurt-headquartered stock exchange operator’s plans to offer access to a wider array of blockchain-based securities and tokenized investment products and builds on its prior partnership with Kraken.