A US-based digital alternate, Kraken
$147.2M
, lately took full possession of Backed Finance AG, the corporate behind the xStocks platform, which provides it to the checklist of its purchases in 2025.
In accordance with an official announcement printed on November 25, this acquisition will deliver the xStocks issuance, buying and selling, and settlement programs beneath direct management and combine them into Kraken’s providers, together with its world cash app.
xStocks gives tokenized variations of publicly traded equities, corresponding to shares and exchange-traded funds (ETFs).
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The platform presently gives over 60 tokenized property and has seen greater than $10 billion in mixed alternate and on‑chain buying and selling since its launch earlier this 12 months.
These property exist on Solana
$132.75
and Ethereum
$3,050.41
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 Alliance, a community of accomplice chains and buying and selling platforms, and this deal is predicted to streamline that alliance.
Kraken has been lively in increasing its footprint via acquisitions throughout 2025. In Might, the agency acquired NinjaTrader. That was adopted by a purchase order of Breakout in September, and in October, it acquired Small Trade, which operates as a delegated contract market.
Kraken lately secured $800 million at a $20 billion valuation to increase into new markets and strengthen its providers worldwide. What did the corporate say? Learn the total story.
