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Kraken has agreed to acquire Backed Finance, a platform that issues blockchain-based tokens mirroring real-world securities such as individual stocks and exchange-traded funds. The exchange aims to pull these products closer to the core of its trading business as it prepares for a planned public listing in 2026.Deal Details and Strategic FitKraken already lists a range of tokenized stocks and ETFs that Backed issues, but the acquisition will allow the exchange to integrate issuance and trading under one roof.📣 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 👇…— Kraken (@krakenfx) December 2, 2025Co-Chief Executive Officer Arjun Sethi told Bloomberg that the firm intends to build tokenized equities into a long-term investment business rather than a short-lived trend, underscoring a push to turn experimental products into a steady revenue stream.However, the companies did not disclose financial terms, but Kraken described the deal as part of a broader investment program around real-world asset tokenization. Backed Finance, founded in 2021, has quickly become a key player in tokenized public equities.Wall Street’s growing interest in tokenizationTokenization of traditional financial instruments has drawn attention from large asset managers and centralized exchanges. According to Bloomberg, BlackRock has issued a tokenized money-market fund that holds more than 2.3 billion US dollars in assets, highlighting institutional willingness to experiment with blockchain rails for familiar products. Several centralized trading venues have rolled out tokenized stock and ETF markets this year, pitching 24/7 trading access and the ability to use tokenized securities as collateral in other crypto-native transactions.The acquisition of Backed Finance marks Kraken’s fifth deal this year and comes on the heels of a funding round that valued the exchange at about 20 billion US dollars.Other crypto companies, including stablecoin issuer Circle Internet Group and exchange Gemini Space Station, have also pursued listings, though some have pushed back timelines as sentiment cooled after Bitcoin and the wider market peaked in October.Expect ongoing updates as this story evolves. This article was written by Jared Kirui at www.financemagnates.com.Kraken has agreed to acquire Backed Finance, a platform that issues blockchain-based tokens mirroring real-world securities such as individual stocks and exchange-traded funds. The exchange aims to pull these products closer to the core of its trading business as it prepares for a planned public listing in 2026.Deal Details and Strategic FitKraken already lists a range of tokenized stocks and ETFs that Backed issues, but the acquisition will allow the exchange to integrate issuance and trading under one roof.📣 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 👇…— Kraken (@krakenfx) December 2, 2025Co-Chief Executive Officer Arjun Sethi told Bloomberg that the firm intends to build tokenized equities into a long-term investment business rather than a short-lived trend, underscoring a push to turn experimental products into a steady revenue stream.However, the companies did not disclose financial terms, but Kraken described the deal as part of a broader investment program around real-world asset tokenization. Backed Finance, founded in 2021, has quickly become a key player in tokenized public equities.Wall Street’s growing interest in tokenizationTokenization of traditional financial instruments has drawn attention from large asset managers and centralized exchanges. According to Bloomberg, BlackRock has issued a tokenized money-market fund that holds more than 2.3 billion US dollars in assets, highlighting institutional willingness to experiment with blockchain rails for familiar products. Several centralized trading venues have rolled out tokenized stock and ETF markets this year, pitching 24/7 trading access and the ability to use tokenized securities as collateral in other crypto-native transactions.The acquisition of Backed Finance marks Kraken’s fifth deal this year and comes on the heels of a funding round that valued the exchange at about 20 billion US dollars.Other crypto companies, including stablecoin issuer Circle Internet Group and exchange Gemini Space Station, have also pursued listings, though some have pushed back timelines as sentiment cooled after Bitcoin and the wider market peaked in October.Expect ongoing updates as this story evolves. This article was written by Jared Kirui at www.financemagnates.com.

Kraken Doubles Down on Tokenized Stocks With Backed Finance Acquisition

Author: Financemagnates

Source: Financemagnates

2025/12/03 00:28

REAL$0.07847-1.55%

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Deal Details and Strategic Fit

Kraken already lists a range of tokenized stocks and ETFs that Backed issues, but the acquisition will allow the exchange to integrate issuance and trading under one roof.

Co-Chief Executive Officer Arjun Sethi told Bloomberg that the firm intends to build tokenized equities into a long-term investment business rather than a short-lived trend, underscoring a push to turn experimental products into a steady revenue stream.

However, the companies did not disclose financial terms, but Kraken described the deal as part of a broader investment program around real-world asset tokenization. Backed Finance, founded in 2021, has quickly become a key player in tokenized public equities.

Kraken Lands $800M Only a Month after Acquiring IG Subsidiary for US Derivatives Push
Kraken CEO: Private Stock Tokens Are a "Terrible Idea"
Kraken’s Q3 Revenue Doubles YoY, Tokenised Stock Volume Hits $5 Billion

Wall Street’s growing interest in tokenization

Tokenization of traditional financial instruments has drawn attention from large asset managers and centralized exchanges. According to Bloomberg, BlackRock has issued a tokenized money-market fund that holds more than 2.3 billion US dollars in assets, highlighting institutional willingness to experiment with blockchain rails for familiar products.

Several centralized trading venues have rolled out tokenized stock and ETF markets this year, pitching 24/7 trading access and the ability to use tokenized securities as collateral in other crypto-native transactions.

The acquisition of Backed Finance marks Kraken’s fifth deal this year and comes on the heels of a funding round that valued the exchange at about 20 billion US dollars.

Other crypto companies, including stablecoin issuer Circle Internet Group and exchange Gemini Space Station, have also pursued listings, though some have pushed back timelines as sentiment cooled after Bitcoin and the wider market peaked in October.

Expect ongoing updates as this story evolves.

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