Quick overview

---

Deutsche Börse has invested $200 million in Kraken, one of the most well-known cryptocurrency exchanges in the US. An indication of increased institutional involvement and greater interest in the market, the investment represents yet another direct capital infusion into a cryptocurrency business by a traditional financial firm.

 

This makes Payward valuable, according to a Bloomberg report. Kraken’s parent company is at $13.3 billion.

Recall that Kraken was the nation’s first cryptocurrency exchange to gain access to a Fed Master account earlier this year. The approval signaled a substantial change in the way digital asset companies engage with the conventional finance system, despite its narrow scope.

Meanwhile, the US Federal Reserve Bank of Kansas has granted Kraken Financial, banking division of Kraken, access to a limited-purpose master account. Although there are some restrictions on the account, the approval represents a major change in how digital asset companies deal with the established financial system

Cryptocurrency companies have had difficulty obtaining trustworthy banking services, whether or not through Operation Chokepoint (2.0). Kraken is now directly linked to the core of the infrastructure intended to transfer US dollars as a result of this decision.