Deutsche Boerse Acquires $200 Million Stake in Kraken

Deutsche Börse has bought a $200 million stake in one of the most popular cryptocurrency exchanges in the United States, Kraken.

 

 

The investment marks yet another direct capital injection by a traditional financial firm into a crypto business – a sign of broader institutional participation and deeper interest in the market.

According to a Bloombergreport, this values Payward Inc., the parent company of Kraken, at $13.3 billion.

Recall that earlier this year, Krakenbecame the first crypto exchange in the country to get access to a Fed Master account. Although it’s limited-purpose, the approval marked a significant shift in the way digital asset firms interact with the traditional finance system.

The postDeutsche Boerse Acquires $200 Million Stake in Kraken appeared first onCryptoPotato.