Kraken Acquires Backed Finance for Tokenized Securities

Kraken, a leading crypto exchange, acquires Backed Finance AG to bolster its tokenization strategy. This move aims to make traditional stocks and ETFs more accessible on crypto platforms. The acquisition will deepen integration and develop infrastructure for these digital assets, aligning with Krakens vision of creating a modern, open, and programmable financial market. This strategic acquisition is part of Krakens series of moves to become a leading institutional-grade trading platform for all asset types.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.