Kraken Acquires Backed to Expand Tokenized US Stock Trading

2025/12/03 10:02 (Updated 2025/12/03 15:01)

CoinPost

Written by Enzo

Kraken Acquires Backed to Expand Tokenized US Stock Trading

Enabling 24-Hour Trading with Tokenized Stocks

Cryptocurrency exchange Kraken announced on the 2nd that it has agreed to acquire Backed Finance AG.

Backed is the issuer of the tokenized stock service 'xStocks', which enables trading of over 60 US stocks and ETFs, including Apple and Tesla, on the blockchain with a one-to-one backed asset.

Since its launch in early 2025, xStocks has exceeded a trading volume of $10 billion (approximately 1.55 trillion yen) within six months. With this acquisition, Kraken aims to integrate issuance, trading, and settlement, accelerating the global expansion of its tokenized stock business.

The tokens of xStocks are currently, ...

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