Kraken Acquires Backed Finance to Lead RWA Tokenization Trend in Crypto

In a major strategic move, leading cryptocurrency exchange Kraken has announced its agreement to acquire Backed Finance, a prominent specialist in real-world asset (RWA) tokenization. This acquisition underscores Kraken's commitment to expanding its offerings beyond traditional cryptocurrencies as the RWA sector experiences rapid growth. Backed Finance is known for issuing blockchain-based tokens that represent real-world assets like stocks and ETFs, bridging decentralized finance (DeFi) with conventional markets. The integration of Backed's technology is expected to accelerate the availability of tokenized assets on Kraken's platform, providing users with new investment opportunities. This deal highlights the accelerating trend of RWA tokenization, positioning Kraken to compete directly with other major exchanges exploring this burgeoning market. The financial terms of the acquisition were not publicly disclosed.