The crypto exchange plans to buy 15% of Aave Group at a $385 million valuation via ETH and AAVE tokens.
Kraken is negotiating to acquire a 15% stake in Aave Group, the entity behind the decentralized finance protocol Aave, for approximately $71 million. The deal values Aave Group at $385 million and involves Kraken exchanging 35,000 ETH for 250,000 AAVE tokens alongside the equity stake.
This would mark Kraken’s first investment under its Payward Asset Management initiative, signaling a strategic push into DeFi and broader crypto investments. Aave Group’s valuation reflects growing interest in decentralized finance platforms amid rising institutional adoption.
No immediate market reaction was reported, though the deal could strengthen Kraken’s position in the DeFi sector if finalized.