Tag: Backed Finance

Kraken Buys Backed Finance: Tokenized ‘xStocks’ Turn Crypto Exchanges Into Shadow Stock Markets

Crypto Transaction tamir -
U.S. crypto exchange Kraken has agreed to acquire Swiss-Jersey tokenization specialist Backed Finance AG, issuer of the fast-growing xStocks line of tokenized equities and ETFs. Media outlets report that the deal is structured as a strategic acquisition to consolidate the issuance, trading, and settlement of tokenized stocks inside Kraken’s infrastructure.