Today Deutsche Börse announced it has invested $200 million in Payward Inc, the parent of the Kraken cryptocurrency exchange. Kraken had filed for a confidential IPO but delayed it following market turbulence. It follows an $800 million fundraise by the company in November 2025, which included Citadel Securities, DRW Ventures and Jane Street as investors.
Kraken is currently the subject of an extortion campaign, with two support staff enabling access to 2,000 clients’ data, although it says no funds are at risk and all clients were notified. Coinbase suffered a similar but more serious support incident last year, where the data was used successfully in phishing campaigns targeting its clients.
In December 2025 Deutsche Börse and Kraken entered into an expansive partnership, including enabling the trading of Kraken’s US tokenized securities, xStocks, via the 360X exchange. 360X is a multilateral trading facility that has a DLT Pilot Regime license.
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