In brief
- Crypto exchange Kraken is buying tokenized assets platform Backed Finance.
- Kraken has made a number of acquisitions this year.
- The firm plans to go public.
U.S. crypto exchange Kraken is buying Backed Finance AG in the firm’s latest acquisition to push tokenization, the company announced Tuesday.
Cheyenne, Wyoming-based Kraken said the transaction for the provider of services bridging equities to decentralized finance would “accelerate the global adoption of xStocks”—securities that already trade on markets made available on blockchains.
Kraken this year has been working with Backed to offer tokenized stocks and ETFs to its clients using crypto networks like Ethereum and Solana. Tokenization refers to the process of…
Dec 02 2025
