Finance
What to know:
- So, Deutsche Börse just threw $200 million at Kraken’s parent company, Payward Inc. That’s like 1.5% of a really expensive pizza-if that pizza was worth $13.3 billion.
- The investment values the company at approximately the GDP of a small country. Hope they have good takeout!
- Kraken was all set to go public last November, but surprise! It seems the market decided to throw a tantrum, and those plans are now gathering dust.
In what can only be described as a dramatic twist in the finance world, Deutsche Börse (you know, the big boss of Frankfurt Stock Exchange and Xetra) has decided to invest $200 million in Kraken’s parent company, Payward Inc. That’s right, they’re claiming their 1.5% stake like it’s a VIP pass to the crypto club.
According to an email from Deutsche Börse (because who doesn’t love business emails?), this transaction will close in the second quarter-pending regulatory approval, of course. You wouldn’t want to rush these things; it’s not like we’re talking about a pizza delivery here.
These two companies joined forces last December in what’s basically a “let’s bridge traditional and digital markets” romance. They’re out to help institutional clients finally adopt cryptocurrency in Europe without needing a GPS to navigate the wild west of digital assets.
“Spanning trading, custody, settlement, collateral management, and tokenized assets, our partnership will unlock a new range of enhanced products and services,” said Deutsche Börse in their email, probably while sipping a latte and imagining a world where everything is frictionless-like my skin after a good moisturizer.
Kraken, which had dreams of going public, has reportedly put those on hold-probably because the market decided to wear its grumpy pants. Last November, they did manage to raise $800 million, which included a cheeky $200 million from Citadel Securities. So, the IPO is still on the table, but only after the market decides to stop throwing fits.
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2026-04-14 13:51