Kraken to Acquire Backed Finance to Advance Tokenization Ecosystem

BlockBeats News, December 2nd, according to Bloomberg, cryptocurrency exchange Kraken is acquiring a tokenization platform, demonstrating its confidence in blockchain stock trading.

In a statement on Tuesday, Kraken said it will acquire Backed Finance, a platform that issues digital tokens representing real assets, including stocks and exchange-traded fund (ETF) shares.

Kraken Co-CEO Arjun Sethi said in an interview that Kraken has already offered stocks and ETFs issued by Backed, and after the acquisition is completed, the plan is to more closely integrate these products into its platform.