Deutsche Börse Group, a leading global exchange operator, has announced a strategic partnership with US-based cryptocurrency exchange Kraken. The collaboration aims to integrate traditional financial infrastructure with digital assets, facilitating seamless access for institutional investors to regulated crypto markets and derivative products.
The partnership will focus on expanding institutional access to spot trading, tokenized markets, and derivatives, while improving liquidity across multiple jurisdictions. The joint efforts are designed to support the evolution of digital capital markets, leveraging Deutsche Börse’s extensive infrastructure and Kraken’s expertise in crypto assets.
Key Collaborations and Integration Plans
Part of the collaboration involves integrating Kraken-backed xStocks into Deutsche Börse’s digital asset infrastructure, 360X. This move will enable trading in tokenized stocks issued by Backed Finance, which Kraken intends to acquire by the end of 2025. Additionally, Kraken will directly integrate with the 360T platform, a renowned foreign exchange and derivatives trading system operated by Deutsche Börse, to enhance fiat-to-crypto trading capabilities and institutional execution.
Subject to regulatory approvals, the partnership also seeks to enable Kraken’s participation in Europe’s regulated futures and options markets, particularly through derivatives listed on Eurex, Deutsche Börse’s German derivatives exchange. This expansion aims to offer broader access to regulated derivatives trading, fostering increased market liquidity and investor confidence.
Kraken and Deutsche Börse are also working on distributing tokenized securities via Clearstream, the settlement and custody service of Deutsche Börse. This move intends to bring traditional securities into the digital asset ecosystem, providing clients with efficient and secure access to tokenized equities and bonds.
Kraken co-CEO Arjun Sethi emphasized the significance of the collaboration: “Our partnership with Deutsche Börse Group demonstrates what happens when two infrastructures designed for scale and trust intersect. By linking traditional and digital markets across a wide range of asset classes, we’re building a holistic foundation for the next generation of financial innovation—focused on efficiency, openness, and client access.”
Deutsche Börse’s CEO, Stephan Leithner, highlighted the company’s commitment to shaping the future of finance. He noted that this partnership combines the trustworthiness of their regulated infrastructure with the innovative potential of digital assets, positioning the firm at the forefront of the evolving financial landscape.
Kraken continues to strengthen its presence across Europe, recently launching support for tokenized stocks with Backed Finance and acquiring licenses under the Markets in Financial Instruments Directive (MiFID) and the Markets in Crypto-Assets (MiCA) framework, ensuring compliance with the region’s regulatory standards.