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A US-based digital change, Kraken
$674.18M
just lately took full possession of Backed Finance AGthe corporate behind the xStocks platform, which provides it to the listing of its purchases in 2025.
In keeping with an official announcement revealed on November 25this acquisition will deliver the xStocks issuance, buying and selling, and settlement methods beneath direct management and combine them into Kraken’s companiestogether with its world cash app.
xStocks gives tokenized variations of publicly traded equitiessimilar to shares and exchange-traded funds (ETFs).
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The platform at present offers over 60 tokenized belongings and has seen greater than $10 billion in mixed change and on‑chain buying and selling since its launch earlier this 12 months.
These belongings exist on Solana
SOL
ETH
$3,062.22
networks and stay out there for buying and selling 24/7. Moreover, customers can self-custody these tokens and use them throughout a number of networks.
The acquisition follows the rollout of xStocks to eligible European customers in September. Kraken additionally manages the xStocks Alliancea community of associate chains and buying and selling platforms, and this deal is predicted to streamline that alliance.
Kraken has been energetic in increasing its footprint via acquisitions throughout 2025. In Might, the agency acquired NinjaTrader. That was adopted by a buy of Breakout in September, and in October, it acquired Small Trade, which operates as a chosen contract market.
Kraken just lately secured $800 million at a $20 billion valuation to develop into new markets and strengthen its companies worldwide. What did the corporate say? Learn the complete story.
