Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion

Crypto exchange Kraken formally agreed to acquire Backed Finance AG on Tuesday, executing a strategic pivot to own the infrastructure behind the booming tokenized asset sector. The deal brings the issuance, compliance, and settlement of xStocks – tokenized representations of real-world equities, entirely in-house, signaling Kraken’s intent to compete directly with traditional brokerage models. According […] Read The Full Article Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion On Coin Edition.