4 hours ago
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Another capital injection from a tradfi giant signals deeper institutional involvement in the crypto industry.
Deutsche Börse has bought a $200 million stake in one of the most popular cryptocurrency exchanges in the United States, Kraken.
The investment marks yet another direct capital injection by a traditional financial firm into a crypto business – a sign of broader institutional participation and deeper interest in the market.
According to a Bloomberg report, this values Payward Inc., the parent company of Kraken, at $13.3 billion.
Recall that earlier this year, Kraken became the first crypto exchange in the country to get access to a Fed Master account. Although it’s limited-purpose, the approval marked a significant shift in the way digital asset firms interact with the traditional finance system.
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.
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