Kraken Exchange accelerates open capital markets with BackedFi acquisition

Kraken Exchange accelerates open capital markets with BackedFi acquisition
@krakenfx: Kraken acquires BackedFi

Kraken Exchange has fully integrated BackedFi, a company known for driving the issuance of xStocks, into its operations.

The acquisition is part of Kraken's strategy to create unified rails for tokenized equities and push towards the future of open, 24/7 capital markets.

The integration of BackedFi marks another pivotal moment in Kraken's ongoing evolution, reflecting a broader ambition to reshape capital markets infrastructure. This approach is consistent with the exchange's previous forays into innovation, such as its announcement to list the Allora Network token as trading commenced in November, and its lighter side, notably evident when Kraken humorously dismissed crypto concerns at Thanksgiving gatherings.

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