Kraken is in talks to acquire a 15% stake in Aave Group at a $385 million valuation, as part of its broader shift in strategy.
The proposed transaction would see Kraken invest 35,000 ether in return for 250,000 AAVE tokens and a 15% common equity stake in Aave Group.
Aave is one of the largest decentralized lending protocols, allowing users to lend and borrow crypto assets without intermediaries.
Kraken's potential investment would give it exposure to onchain credit markets and DeFi liquidity, supporting its push to present itself as a broader crypto financial platform.