Foto: Mehaniq/Shutterstock
Deutsche Börse Group, a global traditional exchange, has joined forces with crypto exchange Kraken. The aim is to bridge the gap between traditional finance and digital assets.
The collaboration with crypto exchange Kraken #
The two plan to connect trading in currencies, digitized stocks, and Eurex derivatives. They will focus on institutional clients—companies and asset managers—in phases. This plan was announced on December 4, 2025, on the German exchange’s website.
The goal is to provide institutional investors with access to regulated crypto products, including spot trading, tokenized markets, and derivatives (leveraged trading). This will also improve liquidity for institutions across multiple jurisdictions.
Stephan Leithner, a board member of Deutsche Börse Group, said:
“This partnership will further enhance our support for institutional clients in the era of digital assets and pave the way for digital capital markets.”
How does it work? #
Kraken-supported xStocks will be integrated into Deutsche Börse’s digital infrastructure: 360X. There, they will issue tokenized stocks via Backed Finance, a company Kraken will acquire by the end of this year. Clearstream securities are also likely to be tokenized and made available to Kraken customers, according to their announcement.
In the first phase, Kraken will integrate directly with 360T, giving its clients access to bank-quality forex trading. Fiat-to-crypto capabilities will be scaled up, and institutional execution will be ensured.
The reason for the partnership #
Arjun Sethi, a co-director at Kraken, said that this way, two infrastructures designed for large scale and based on trust cross each other. By linking digital and traditional markets, we are building a trading place where everyone is welcome, based on efficiency, openness, and access for customers.
Leithner emphasized that the partnership with Kraken combines the trust and resilience of our regulated infrastructure with the innovation of the digital asset ecosystem.
Kraken now holds key licenses for trading in the European market, including the MiCA license and the Markets in Financial Instruments Directive (MiFID) license.