Crypto exchange Kraken has announced its acquisition of Backed Finance, a Swiss company known for issuing tokenized versions of publicly traded stocks and ETFs. Backed’s flagship “xStocks” convert real equities into onchain tokens, allowing users to hold traditional assets in digital form.
Kraken already supports several xStocks on its exchange, but the acquisition will allow the company to unify issuance, trading and settlement under one integrated architecture.
Co-CEO Arjun Sethi said Kraken aims to build long-term infrastructure for open and programmable capital markets, emphasizing transparency and global accessibility over hype.
Backed’s catalog includes more than 60 tokenized equities and ETFs, and the company ranks as the second-largest provider in the tokenized-stocks sector with around 23% market share.
According to rwa.xyz, xStocks have surpassed $170 million in issued assets and $2.3 billion in onchain volume since launching in early 2025. Kraken plans to expand support across multiple blockchains, including Solana, Ethereum, TON, Tron, Mantle, and BNB Chain.
You need to login in order to Like
Leave a comment