Kraken has announced the acquisition of Backed Finance, a prominent issuer of tokenized real-world assets (RWAs). This strategic move marks another significant addition to the exchange’s 2025 acquisition portfolio and brings the xStocks tokenized-equity platform fully under Kraken’s control. The integration of xStocks is a decisive step in Kraken’s expanding strategy to deepen its presence in the regulated RWA sector. By internalizing the platform, Kraken gains direct oversight of a service that offers blockchain-based representations of traditional equities, enhancing its ability to provide clients with access to a broader suite of compliant, on-chain financial products. This acquisition underscores the exchange’s commitment to bridging digital asset markets with established financial instruments, positioning itself at the forefront of the growing tokenized assets landscape.
