Kraken Acquires Backed Finance to Enhance Crypto Equity Offering

Kraken, a major cryptocurrency exchange, has acquired Backed Finance AG, a leader in tokenized equities, to significantly expand its offerings and solidify its market presence before an anticipated IPO in 2026. This strategic acquisition integrates Backed Finance’s cutting-edge xStocks platform into Kraken’s infrastructure, bridging the gap between traditional equity markets and blockchain technology. 💰