Kraken Acquires Backed Finance to Potentially Expand xStocks on Solana and Ethereum

Kraken's acquisition of Backed Finance AG grants the exchange full control over the xStocks tokenized-equity platform, enhancing its expansion into regulated real-world assets. This move integrates tokenized stocks and ETFs for 24/7 trading on blockchains like Solana and Ethereum, with over $10 billion in volume since launch. Kraken gains complete ownership of xStocks, a platform [...]