- Crypto exchange Kraken is cooperating with Deutsche Börse Group to connect traditional financial markets with regulated crypto markets.
- The collaboration will expand institutional access to cryptocurrencies, FX liquidity, derivatives and RWA tokenization in Europe and the US.
Kraken is a partnership with Deutsche Börse Group receivedone of the world’s leading financial market organizations. The aim is to connect traditional markets and the rapidly growing crypto industry.
The collaboration begins after the crypto exchange received a license under the Markets in Crypto-Assets (MiCA) framework from the EU – CNF reported.
The two major corporations intend to expand institutional presence and offer traditional markets in Europe and the US access to regulated crypto markets and tokenized assets. The strategic collaboration is significant because Kraken has one of the oldest, most liquid and secure crypto platforms in the world, while Deutsche Börse Group has one of the world’s leading financial market infrastructures.
Joint roadmap
The two billion-dollar companies have created a roadmap to define and streamline the trading, settlement, custody and management of collateral for institutional clients.
The first phase involves immediate and direct interaction between Kraken and Deutsche Börse’s institutional foreign exchange trading venue, 360T. This connection gives banks and companies access to extensive financing options, resulting in better foreign exchange prices and easier foreign exchange.
Additionally, the collaboration will expand Kraken Embed’s operational scope. Kraken Embed, Kraken’s crypto-as-a-service, was launched on Launched on April 30th of this year, it helps traditional financial institutions in Europe and the USA to offer their customers legally regulated crypto trading in both jurisdictions.
In the future, derivatives listed on Eurex will also be included in trading, subject to official approval. All of this expands access to Europe’s largest regulated futures and options marketplace. Customers can already trade derivatives via the respective platforms of Kraken and Deutsche Börse.
Deutsche Börse and the crypto exchange will work with the xStocks and 360X platforms to distribute token-based stocks. As CNF reported, Deutsche Börse subsidiary Clearstream will provide the custody and transfer of securities in tokenized form as a service.
No Comments