Kraken adds Backed Finance to 2025 acquisition streak, brings xStocks in-house
PositiveCryptocurrency
- Kraken has announced the acquisition of Backed Finance, which will allow the cryptocurrency exchange to gain full control of the xStocks tokenized-equity platform. This move is part of Kraken's strategy to enhance its offerings in regulated real-world assets.
- The acquisition is significant for Kraken as it strengthens its position in the growing market for tokenized assets, enabling the company to integrate traditional finance with blockchain technology more effectively.
- This development aligns with Kraken's recent financial successes, including a valuation increase to $20 billion following substantial funding rounds, and its ongoing preparations for a potential initial public offering (IPO), reflecting a broader trend of cryptocurrency exchanges seeking to expand their market presence and regulatory compliance.
— via World Pulse Now AI Editorial System
