Kraken is planning to acquire a 15% stake in Aave at a $385 million valuation

According to Odaily, cryptocurrency exchange Kraken is in talks to acquire a 15% stake in decentralized finance protocol Aave at a $385 million valuation.

According to a document, the potential deal would involve Kraken investing 35,000 ETH in exchange for 250,000 AAVE tokens and a 15% equity stake in Aave Group. Sources indicate that Kraken is also planning a consortium co-investment for the approximately $71 million transaction. The investment is reportedly the first in a series of deals aimed at building Payward Asset Management. (CoinDesk)