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Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion
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Kraken is acquiring Backed Finance AG to enhance its xStocks infrastructure, aiming to support tokenized assets. xStocks achieved over $10 billion in trading volume in six months, indicating strong market adoption. Co-CEO Arjun Sethi highlighted the integration will improve transparency and accessibility in tokenized equities.
- Kraken will acquire Backed Finance AG to accelerate the expansion of xStocks.
- xStocks crossed $10 billion in volume within six months.
- Co-CEO Arjun Sethi also praised Kalshi’s recent fundraising at $11B valuation.
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 to Kraken co-CEO Arjun Sethi, the unification will lead to a more “transparent, reliable and globally accessible” offering for customers. He stated:
“This is bigger than giving people exposure to U.S. equities, it’s about redefining what it…
Read The Full Article Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion On Coin Edition.
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Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion
Share:
Kraken is acquiring Backed Finance AG to enhance its xStocks infrastructure, aiming to support tokenized assets. xStocks achieved over $10 billion in trading volume in six months, indicating strong market adoption. Co-CEO Arjun Sethi highlighted the integration will improve transparency and accessibility in tokenized equities.
- Kraken will acquire Backed Finance AG to accelerate the expansion of xStocks.
- xStocks crossed $10 billion in volume within six months.
- Co-CEO Arjun Sethi also praised Kalshi’s recent fundraising at $11B valuation.
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 to Kraken co-CEO Arjun Sethi, the unification will lead to a more “transparent, reliable and globally accessible” offering for customers. He stated:
“This is bigger than giving people exposure to U.S. equities, it’s about redefining what it…
Read The Full Article Kraken Acquires ‘Backed’ to Vertically Integrate Tokenized Stocks; xStocks Volume Hits $10 Billion On Coin Edition.
In This News
Share:
In This News
Share:
Read More
Kraken’s Breakout Acquisition Signals Institutional Bet on Crypto Prop Trading’s Explosive Growth