Deutsche Börse Buys $200 Million Stake In Crypto Firm Kraken (1)

Deutsche Börse AG invested $200 million in Payward Inc., the parent of crypto trading platform Kraken, as the Frankfurt stock exchange operator moves to offer access to a wider array of securities over blockchain rails.

The purchase of existing shares, which gives Deutsche Börse a 1.5% fully diluted stake in the company, is expected to close in the second quarter subject to regulatory approvals, according to a statement on Tuesday. The identity of the seller wasn’t disclosed.

The transaction values Kraken — which plans to go public as soon as this year — at around $13.3 billion, according to ...