Kraken Expands Tokenized Equity Offerings Through Acquisition of Backed Finance Kraken, a leading American cryptocurrency exchange, has announced the acquisition of Backed Finance AG, the firm behind the innovative xStocks platform. This move reflects Kraken’s strategic push into tokenized equities, enhancing its product suite amid a broader industry trend toward digital asset tokenization. Key Takeaways Kraken plans to integrate xStocks’ tokenized equities into its ecosystem, including its global money app, with expanded blockchain support. xStocks offers tokenized versions of over 60 publicly traded stocks and ETFs, processing more than $10 billion in combined volume since launch. The platform supports tokens on Solana and Ethereum, allowing 24/7 trading with self-custody options and multi-network usability. The acquisition aims to consolidate Kraken's XStocks Alliance and improve interoperability and liquidity across markets expanding into tokenized equities. Tickers mentioned: ...