BroadChain has learned that Deutsche Börse plans to invest $200 million in Payward, the parent company of cryptocurrency exchange Kraken, on April 14. The investment will secure approximately 1.5% of fully diluted equity and is expected to close in the second quarter of 2026, pending regulatory approval.
Based on Bloomberg's calculations, the deal implies a valuation for Kraken of around $13.3 billion. This marks a decrease from its roughly $20 billion valuation during a share transfer in November 2025.
The investment is seen as a major strategic move by Deutsche Börse to accelerate its push into the digital asset sector.
Industry observers suggest the partnership may extend beyond a simple financial stake, potentially unlocking strategic synergies in areas like crypto derivatives, market data, and custody services.
Deutsche Börse already runs digital asset platforms such as 360X. The capital infusion into Kraken is anticipated to significantly bolster its footprint in cryptocurrency trading and settlement.