Kraken and Deutsche Börse: A Match Made in Crypto-Finance Heaven?
In the land where euros flow like a steady river, Deutsche Börse AG, the venerable operator of Germany’s largest stock exchange, has cast its lot with Payward Inc., the parent of the crypto exchange Kraken. For $200 million, they’ve bought themselves a 1.5% stake, valuing Kraken at a modest $13.3 billion. A far cry from its former glory of $20 billion, but who’s counting? The deal, expected to close in the second quarter of 2026, is pending the nod of the regulatory gods.






