Kraken has acquired Backed Finance, a leading provider of tokenized equity solutions. This strategic move aims to solidify Kraken’s position in the growing tokenization market and prepares it for a targeted IPO in 2026. The acquisition enables Kraken to fully control the entire lifecycle of its tokenized equities, from issuance to trading, integrating Backed’s technology seamlessly into its expanding ecosystem. Backed’s infrastructure has become a widely adopted backbone for creating on-chain versions of stocks and ETFs. It powers over 70 different assets across multiple blockchains, supporting Kraken’s xStocks marketplace and other platforms such as Bybit. 2025 holds immense potential for tokenization in finance. The industry is experiencing rapid growth with predictions from Standard Chartered forecasting a trillion-dollar market by the end of the decade. This acquisition aligns with Kraken’s broader ambition to become a central hub in the next wave of financial tokenization.