Kraken has acquired Backed Finance, a Swiss platform that transforms real-world assets into tradable crypto tokens, according to Bloomberg. This move enhances Kraken’s control over tokenized stocks and ETFs already traded on its platform, signaling a commitment to 24/7 equity trading powered by blockchain technology. Backed issues crypto tokens mirroring real-world securities, ensuring one-to-one backing with the underlying assets. When investors purchase a tokenized share, it’s directly linked to the physical security held in custody. The financial details of the acquisition remain undisclosed, but co-CEO Arjun Sethi clarifies that Kraken’s strategy focuses on long-term investment rather than chasing short-lived hype. 2026 is the target year for an IPO for Kraken.