Kraken Buys Backed Finance, Merging Stocks with DeFi

Kraken has acquired Backed Finance AG, a significant step in its strategy to advance the tokenization of financial assets. This acquisition is set to accelerate the global adoption of "xStocks," which are securities represented on blockchains, linking traditional equities with decentralized finance. The collaboration will leverage crypto networks such as Ethereum and Solana to offer tokenized stocks and exchange-traded funds to Kraken's clientele.

This integration is crucial for Kraken's vision of building open and programmable capital markets. By unifying issuance, trading, and settlement under a single framework, the exchange aims to ensure that the infrastructure for tokenized assets is transparent, reliable, and globally accessible. This initiative is foundational for the future structure of financial markets.