Kraken and Deutsche Börse have launched a strategic partnership designed to connect traditional financial markets with the digital asset ecosystem. The collaboration combines Deutsche Börse’s regulated infrastructure with Kraken’s crypto-native expertise to provide institutional clients seamless access across asset classes, including regulated crypto, tokenized markets, and derivatives.
We just announced a groundbreaking partnership with Deutsche Börse Group to bring TradFi & crypto closer than ever.
FX via 360T is phase one. Derivatives, enhanced liquidity, Embed, & xStocks are next.
Institutional access is getting a serious upgrade.https://t.co/rtunQkmtyn
— Kraken (@krakenfx) December 4, 2025
The initiative spans trading, custody, settlement, collateral management, and tokenized assets, aiming to deliver frictionless access for institutional investors. By leveraging complementary capabilities, the two firms intend to create a unified experience that supports global market participation and operational efficiency.
Phase One Focus: FX and Institutional Crypto Access
The first phase of the partnership integrates Kraken directly with 360T, a Deutsche Börse subsidiary and one of the world’s largest foreign-exchange trading venues. This connection provides Kraken clients with bank-grade FX liquidity through one of the deepest global pools available, improving fiat on- and off-ramp efficiency while maintaining institutional-grade execution and reliability.
In parallel, Kraken Embed will expand crypto access for Deutsche Börse Group clients. The firms will develop white-label solutions enabling banks, fintechs, and other institutions to offer secure, compliant crypto trading and custody services across the US and Europe.
Broadening Derivatives and Tokenized Market Access
Subject to regulatory approvals, Eurex-listed derivatives will be accessible through Kraken, increasing institutional access to Europe’s largest regulated futures and options marketplace. Additionally, the partnership leverages Deutsche Börse subsidiaries Clearstream and Crypto Finance to enhance trading and custody capabilities for both cryptocurrencies and derivatives.
The collaboration also aims to advance tokenization by integrating Kraken’s xStocks within 360X’s ecosystem. This will expand the distribution of tokenized equities held in Clearstream custody to Kraken’s client base, enhancing global reach for one of the most widely adopted tokenized equity standards.
Kraken Co-CEO Arjun Sethi described the partnership as a convergence of infrastructures “designed for scale and trust,” while Deutsche Börse CEO Stephan Leithner highlighted its strategic fit in combining regulated infrastructure with digital innovation. The two-way framework allows Kraken’s US services to reach European clients and Deutsche Börse’s infrastructure to support Kraken’s global base, reinforcing the objective of seamless market integration.
