RWA News: Crypto Exchange Kraken Agrees to Buy Tokenization Firm Backed Finance

Crypto exchange Kraken announced its agreement to purchase the Switzerland-based tokenization specialist Backed Finance, signaling a strategic move to integrate more real-world assets (RWAs) onto its platform. Kraken plans to add Backed Finance's tokenized stocks and ETFs to its trading venue, building upon their existing partnership for the xStocks tokenized equity offering, which has seen significant trading volume since its June launch. This acquisition aligns with a broader industry trend of tokenizing assets like bonds and stocks to achieve greater operational efficiency and 24/7 trading. The deal follows a series of acquisitions by Kraken as it prepares for a potential public offering, including the recent $1.5 billion purchase of NinjaTrader and an $800 million fundraising round that valued the firm at $20 billion.

(Source：CoinDesk)