Kraken to Acquire Backed Finance AG to Boost Tokenized Equities
- Kraken is set to acquire Backed Finance AG, the issuer of xStocks.
- The acquisition aims to enhance the global reach of tokenized equities.
- Demand for tokenized stocks is climbing worldwide, prompting this strategic move.
Kraken’s purchase of Backed Finance AG underscores the growing interest in tokenized equities globally. The deal seeks to integrate these financial instruments more deeply into mainstream markets.
The acquisition highlights Kraken’s commitment to expanding its offerings in response to increasing demand for tokenized stocks worldwide. (Source)
