Kraken Agrees to Buy Tokenization Specialist Backed Finance as RWA Trend Accelerates

Crypto exchange Kraken said it agreed to buy tokenization specialist Backed Finance as crypto firms increasingly bring real-world assets onchain in a market that's projected to be worth trillions of dollars in less than 10 years. Kraken plans to add the Switzerland-based company's tokenized stocks and exchange-traded funds (ETFs) to its trading platform, it said in a Tuesday press release. It did not disclose the terms of the deal. The exchange has been on an acquisition spree as it prepares to go public ...