Kraken to acquire Backed Finance to bolster tokenization strategy
Crypto Briefing
Kraken is acquiring Backed Finance to enhance its strategy for offering tokenized stocks and bridging traditional finance with digital assets.Summary
Regulated cryptocurrency exchange Kraken has announced its acquisition of Backed Finance, a platform specializing in tokenization solutions that convert real-world assets like stocks and ETFs into digital tokens. This strategic move is intended to strengthen Kraken's position as an on-chain venue for tokenized assets and institutional services, effectively bridging cryptocurrency markets with traditional finance. Kraken already offers stocks and ETFs issued by Backed and plans to integrate these offerings more deeply into its platform, aligning with its ongoing focus on European compliance initiatives for tokenized assets.
(Source：Crypto Briefing)