Effective immediately, the two companies will leverage their complementary capabilities to bridge traditional financial markets and the digital asset economy.
Providing seamless institutional access to all asset classes
Spanning trading, custody, settlement, collateral management and tokenized assets, the partnership will unlock a new range of enhanced products and services that will provide seamless access to both ecosystems, creating a holistic experience for institutional clients.
First phase: direct integration with 360T for superior foreign exchange liquidity
In the first phase of the partnership, Kraken will integrate directly with 360T, a subsidiary of Deutsche Börse Group and one of the largest foreign exchange trading platforms in the world.
The integration gives Kraken clients access to competitive, bank-grade FX liquidity through one of the deepest global liquidity pools available, significantly improving the efficiency of fiat entry and exit ramps while ensuring institutional-grade execution and reliability.
Expanding institutional access to crypto via Kraken Embed
The partnership will also leverage Kraken Embed to expand institutional access to cryptocurrencies across the Deutsche Börse Group network. Together, the companies will develop advanced white-label solutions enabling banks, fintechs and other financial institutions to offer secure and compliant cryptocurrency trading and custody services to their customers in Europe and the United States.
Expand access to derivatives via Eurex
Subject to regulatory approvals, the two companies plan to make Eurex-listed derivatives available for trading on Kraken, expanding access to Europe’s largest regulated futures and options market.
Improving Trading and Custody via Clearstream and Crypto Finance
The collaboration will also enable Deutsche Börse Group clients to trade cryptocurrencies and derivatives through Crypto Finance, as well as through Kraken to serve enhanced end-client models, while leveraging Clearstream and Crypto Finance, two Deutsche Börse Group subsidiaries, for custody.
Advancing Tokenization: Integrating xStocks and 360X
Kraken and Deutsche Börse Group will also work together to integrate xStocks into the 360X ecosystem, significantly expanding the reach of one of the world’s most widely adopted tokenized stock standards. In addition, Deutsche Börse Group and Kraken will endeavor to enable the distribution of securities held at Clearstream in token form to Kraken’s customers.
Arjun Sethi, co-CEO of Kraken: “Our partnership with Deutsche Börse Group demonstrates what happens when two infrastructures designed for scalability and trust intersect. By connecting traditional and digital markets across a broad range of asset classes, we are building a holistic foundation for the next generation of financial innovation: defined by efficiency, openness and access to customers.”
Stephan Leithner, CEO of Deutsche Börse Group: “This collaboration with Kraken is an excellent strategic fit for the Deutsche Börse Group. It underlines our continued commitment to shaping the future of financial markets by combining the trust and resilience of our regulated infrastructure with the innovation of the digital asset ecosystem. Across our value, this partnership will further strengthen our support for institutional clients in the digital asset era and pave the way for digital capital markets.”
A two-way gateway connecting the US and European institutional markets
The partnership also establishes a geographic access framework: Kraken will offer its US capabilities to Deutsche Börse Group’s institutional clients seeking exposure to crypto and tokenized assets, while Deutsche Börse Group will provide its European infrastructure and services to Kraken’s global client base. This two-way integration highlights the shared vision of seamlessly connecting traditional and digital markets.
