Crypto exchange Kraken has bolstered its presence in the tokenized stock market by acquiring Backed Finance, a leading platform for creating digital assets representing real-world securities like stocks and ETFs. This strategic acquisition further strengthens Kraken’s commitment to blending traditional finance with blockchain technology. backed Finance has established itself as the second-largest platform for tokenized public stocks, boasting a substantial market share of around 23%. Kraken already offers access to Backed Finance’s stock and ETF offerings through its xStocks platform, which gives investors access to over 60 tokenized versions of stocks and ETFs across various blockchains like BNB Chain. This move aims to simplify investor access to these assets while focusing on long-term investment opportunities. Kraken emphasizes a strategic shift away from short-term trends towards sustained growth strategies.