Decrypt could not verify the claims at the time of publication and has reached out to both companies for comment.
The transaction values Kraken at roughly $13.3 billion, down from its $20 billion valuation during a November fundraising round, according to Bloomberg calculations.
"We're seeing a clear wave of consolidation and partnerships as traditional financial institutions move to catch up with crypto, particularly around tokenized assets," Ruchir Gupta, co-founder of Gyld Finance, told Decrypt.
"It's hard for them to build out these businesses from scratch; therefore, they are investing in incumbents to gain an edge,” he added.
"Large traditional players are under pressure to keep up with the momentum and regulatory clarity, and buying out stakes—especially in companies that are still private—is one of the easiest ways to do that," Gupta told Decrypt.
"I see this as an important milestone for tokenized securities but also more broadly for the convergence of traditional markets and blockchain-based rails," he said, adding that a Deutsche Börse endorsement opens doors for institutional clients who need that vote of confidence before engaging with a firm like Kraken.
The partnershipUnder that agreement, Kraken integrated directly with 360T, a Deutsche Börse subsidiary and one of the world's largest foreign-exchange trading venues, giving Kraken clients access to bank-grade FX liquidity.
Public market pushMeanwhile, KRAKacquisition Corp., a SPAC sponsored by a Kraken affiliate, completed a $345 million public offering in January and is hunting for an acquisition target valued as high as $10 billion.
Around 2,000 individuals potentially had their information viewed, Percoco said, with anyone at risk already contacted.
