Deutsche Börse Group has announced a strategic investment of US$200 million in Payward, the infrastructure layer behind the global cryptocurrency platform Kraken.

Deutsche Börse Group is making the investment through a secondary share purchase, giving it a 1.5% fully diluted stake in the company.

The transaction further strengthens the strategic partnership between Deutsche Börse Group and Kraken.

As previously announced in December 2025, the two firms intend to combine their respective capabilities to connect traditional financial markets with the digital asset ecosystem.

The collaboration spans trading, custody, settlement, collateral management, and tokenised assets, with the aim of enabling more integrated access across both environments for institutional clients.

The investment also underscores Deutsche Börse Group’s focus on its digital asset strategy, which centres on building a hybrid market infrastructure capable of processing both traditional securities and blockchain-based tokens within a unified liquidity pool.

Customary closing conditions, including regulatory approvals, still apply to the transaction, and Deutsche Börse Group expects it to close in the second quarter.

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