Kraken Acquires Backed Finance to Expand Tokenized Asset Offerings

Kraken, a leading U.S.-based cryptocurrency exchange, has acquired Backed Finance, a prominent platform for tokenizing stocks and ETFs on blockchains like Ethereum and Solana. This strategic acquisition aims to boost Kraken’s capabilities in the growing market for tokenized assets, potentially driving efficiency and expansion within this sector. 🎤 The deal underscores Kraken’s commitment to long-term integration with traditional financial markets, aligning it with industry players such as BlackRock and Franklin Templeton.