Leading cryptocurrency exchange Kraken has announced the acquisition of Backed Finance, a regulated platform specializing in the tokenization of real-world assets. This strategic move is designed to significantly enhance Kraken’s capabilities in the growing tokenized securities market. The acquisition will integrate Backed’s technology and regulatory framework directly into Kraken’s infrastructure, providing clients with access to a broader suite of tokenized traditional financial instruments. Company executives stated the deal is a pivotal step to accelerate the global adoption and accessibility of tokenized assets, commonly referred to as xStocks. This purchase continues a pattern of strategic expansion for the exchange, as it seeks to consolidate services and capture a larger share of the evolving digital asset ecosystem by bridging conventional finance with blockchain technology.
