Kraken to Acquire Backed Finance to Expand Tokenized Stocks and ETFs on Its Platform

Kraken is accelerating its push into tokenized financial assets with a planned acquisition of Backed Finance, a platform that issues digital tokens backed by real-world securities. The Bloomberg-reported deal signals Kraken‘s growing confidence in blockchain-enabled stock trading and its strategy to broaden access to tokenized equity within a regulated crypto trading stack.

Under the agreement, Kraken will acquire Backed Finance, whose technology renders stocks and ETFs as tradable tokens. Following closing, the integration is designed to streamline the delivery and settlement of tokenized assets on Kraken’s platform and expand investable access for users.

Kraken co-CEO Arjun Sethi noted that the firm has already offered stocks and ETFs issued through Backed, and the post-merger plan aims to tighten product alignment across the platform. The move marks a measured step toward broader access to compliant tokenized securities for institutions and retail clients.