U.S. crypto exchange @krakenfx is buying Backed Finance AG in the firm's latest acquisition to push tokenization, the company announced Tuesday. https://t.co/xEVQhujUIT ...

Kraken to Acquire Tokenization Platform Backed Finance as Crypto Exchange Extends Buying Spree► https://t.co/HNQjeO5HIu https://t.co/HNQjeO5HIu ...

Core Viewpoint - U.S. crypto exchange Kraken is acquiring Backed Finance AG to enhance its tokenization efforts, aiming to accelerate the global adoption of tokenized stocks and redefine asset ownership in the digital era [1][4]. Group 1: Acquisition Details - Kraken's acquisition of Backed Finance AG is part of its strategy to integrate services that bridge traditional equities with decentralized finance [1]. - The transaction is expected to strengthen Kraken's infrastructure for open and programmable capital markets, according to co-CEO Arjun Sethi [2]. - The financial details of the acquisition have not been disclosed [3]. Group 2: Strategic Goals - Kraken aims to unify issuance, trading, and settlement of tokenized assets under a single framework to ensure transparency and global accessibility [3]. - The company has made several acquisitions this year, including Breakout and NinjaTrader, as it prepares for a public offering [4]. - Sethi emphasized that the acquisition is about more than just providing exposure to U.S. equities; it is about redefining asset ownership in the digital age [4]. Group 3: Industry Context - Interest in tokenization among traditional finance firms has increased, with notable figures like BlackRock's Larry Fink advocating for its potential to transform capital markets [4]. - Franklin Templeton has been actively tokenizing assets across various blockchains for several years, indicating a growing trend in the industry [4].

🔥 NEW: Kraken is acquiring Backed Finance, a major tokenized-assets issuer with about 23% market share, to expand its tokenized stocks and ETF offerings across its platform. https://t.co/Y7xoIWuMB6 ...

The charts said https://t.co/AWPcLkpOdO ...

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Kraken to buy Backed Finance in tokenization push ahead of IPO https://t.co/DKlXBn3X8D ...

Core Viewpoint - Kraken is acquiring Backed Finance to enhance its offerings in tokenized assets, aligning with a growing trend in the crypto industry to bring real-world assets on-chain, with the market projected to reach trillions of dollars in the next decade [1][4]. Company Summary - Kraken has been actively acquiring companies as it prepares for a public offering, including NinjaTrader for $1.5 billion, Small Exchange for $100 million, and a proprietary trading firm, Breakout [2]. - The recent fundraising round raised $800 million, valuing Kraken at $20 billion [2]. Industry Summary - The integration of Backed Finance into Kraken is aimed at strengthening the infrastructure for open and programmable capital markets, ensuring transparency and reliability for tokenized assets [3]. - The tokenization trend is gaining momentum as both crypto firms and traditional asset managers move real-world assets onto blockchain, seeking operational efficiencies and broader distribution, with the market expected to be worth $18 trillion by 2033 [4].

📣 We’re bringing @BackedFi, the company driving the issuance of xStocks, fully into Kraken.Why? Because tokenized equities won’t reach global scale without unified rails.With @xStocksFi now fully in-house, we’re accelerating the future of open, 24/7 capital markets 👇https://t.co/1ahaCiPnnW ...

Market Expansion & Acquisition - Kraken acquires Backed Finance, a tokenized asset platform [1] - Backed Finance holds approximately 23% market share in public stock tokenization [1] - Kraken plans to further integrate tokenized U S equities and related products into its trading platform [1] Company Valuation & Future Plans - Kraken is valued at around $20 billion [1] - Kraken is preparing for a 2026 IPO (Initial Public Offering) [1]