Kraken Acquires Backed Finance to Potentially Boost xStocks Tokenization Adoption
The post Kraken Acquires Backed Finance to Potentially Boost xStocks Tokenization Adoption appeared on BitcoinEthereumNews.com.
Kraken’s acquisition of Backed Finance AG marks a strategic move to advance tokenization in cryptocurrency markets, enabling seamless bridging of traditional equities to decentralized finance platforms. This deal accelerates the global adoption of xStocks, tokenized securities on blockchains like Ethereum and Solana, fostering programmable capital markets. Kraken, a leading U.S. crypto exchange based in Cheyenne, Wyoming, has acquired Backed Finance AG to enhance its tokenization services. The acquisition builds on existing collaborations, allowing clients to trade tokenized stocks and ETFs using crypto networks. Tokenization involves representing real-world assets on-chain, with projections from industry reports indicating a market growth to over $10 trillion by 2030. Discover how Kraken’s acquisition of Backed Finance boosts crypto tokenization. Explore xStocks and DeFi integration for global asset access—read now for insights on the future of programmable markets! What is Kraken’s Acquisition of Backed Finance and Its Impact on Tokenization? Kraken’s acquisition of Backed Finance AG represents a pivotal step in integrating traditional finance with blockchain technology. Announced on Tuesday, this transaction positions Kraken to accelerate the global adoption of xStocks, which are tokenized versions of securities tradable on decentralized markets. By unifying issuance, trading, and settlement, the deal enhances transparency and accessibility in capital markets, as stated by Kraken co-CEO Arjun Sethi. How Does Backed Finance’s Tokenization Technology Bridge Equities and DeFi? Backed Finance AG specializes in providing services that connect traditional equities to decentralized finance (DeFi) ecosystems. Their technology tokenizes real-world assets, such as stocks and ETFs, into digital representations on blockchains, allowing for 24/7 trading without intermediaries. This year, Kraken has partnered with Backed to offer these xStocks to clients via networks like Ethereum and Solana, streamlining access to global markets. According to statements from Kraken executives, integrating Backed’s infrastructure “strengthens the core architecture required for open and programmable capital markets.” This unification…
