Kraken partners with German stock exchange… "Will expand access to cryptocurrencies"

U.S. cryptocurrency exchange Kraken is teaming up with the German stock exchange Deutsche Börse to expand business in the European Union (EU).

Kraken said on the 4th (local time) that it had signed a strategic partnership with Deutsche Börse.

First, Kraken plans to integrate services with the foreign-exchange trading platform 360T through the partnership. Previously, Deutsche Börse acquired 360T in 2015. Kraken said, "Through this integration, Kraken customers will have access to bank-level foreign exchange (FX) liquidity," adding, "the efficiency of fiat on- and off-ramps will also be greatly improved."

Kraken's institutional platform 'Kraken Embed (Kraken Embed)' will also see its services expanded. Kraken said it will provide Kraken Embed's services to institutional investors who are clients of the Deutsche Börse Group.

Kraken said, "(With Deutsche Börse) we will develop solutions that provide cryptocurrency trading and custody services to customers across Europe and the United States," and added, "we plan to provide U.S. capabilities to Deutsche Börse Group's institutional clients who wish to invest in cryptocurrencies and tokenized assets."