Kraken, a leading cryptocurrency exchange, has announced the acquisition of Backed Finance, a move that grants it full control of xStocks, a rapidly expanding platform for tokenized equities. The acquisition strengthens Kraken's position in the digital asset space and expands its offerings to include a wider range of investment products.

xStocks, now under Kraken's umbrella, is a notable tokenized equities platform facilitating trading of shares in a digital format. It has reportedly seen over $10 billion in trading volume, indicating significant growth and investor interest. The terms of the deal were not disclosed.

This acquisition marks another addition to Kraken’s ongoing expansion strategy. While the original statement mentions a “2025 acquisition streak,” the specifics of this plan beyond the Backed Finance deal remain unclear. However, the incorporation of xStocks into Kraken’s operations directly places the platform's technology and user base within the Kraken ecosystem.

Tokenized equities represent a growing trend in the financial markets, bridging the gap between traditional stock ownership and the digital asset world. By bringing xStocks in-house, Kraken aims to capitalize on this emerging market and offer its users access to a broader range of investment opportunities. The move signals a continued commitment from Kraken to innovate and adapt to the evolving landscape of digital finance.