Kraken and Deutsche Borse strike partnership to link traditional and digital markets

Kraken and Deutsche Borse Group have formed a broad strategic partnership to connect traditional market infrastructure with crypto-native platforms, covering trading, custody, settlement, derivatives, and tokenized assets. This integration creates reciprocal market gateways: Kraken will offer its U.S. crypto infrastructure to Deutsche Borse clients, while Deutsche Borse will extend its European infrastructure to Kraken's institutional base.

The initial phase focuses on FX integration via Deutsche Borse's 360T, aiming to improve fiat on/off-ramp efficiency for Kraken. The firms will also leverage Kraken Embed to allow financial intermediaries in the Deutsche Borse network to offer regulated crypto services. Pending regulatory approval, Kraken users will gain access to Eurex-listed derivatives, and Deutsche Borse clients can trade crypto via Kraken and Crypto Finance.

Furthermore, the partnership includes a push into tokenization, embedding Kraken's xStocks (acquired via Backed Finance) into Deutsche Borse's 360X ecosystem, and allowing distribution of Clearstream-custodied tokenized securities to Kraken's clients.

(Source：The Block)