TL;DR
Kraken agreed to acquire Backed Finance to integrate issuance and trading of tokenized stocks and etfs. Backed is credited with roughly 20–23% market share and about 71 tokenized assets, according to available reports. The push aligns with a broader kraken tokenization strategy and a planned public listing timeline.
Kraken Backed Finance acquisition December 2025: Key facts
The Kraken Backed Finance acquisition December 2025 brings Backed’s issuance business inside Kraken. In short, kraken buys backed finance to streamline user access to tokenized stocks and etfs across the exchange. Available reports confirm the agreement and note that financial terms were not disclosed.
By the numbers:
- About 71 on-chain assets issued by Backed, according to The Block.
- Market share near 23% per RWA.xyz, other coverage places it around 20%.
- Kraken already lists Backed’s tokens, the deal unifies issuance and trading across one platform.
- IPO timing: a planned 2026 listing aligns with the kraken 2026 ipo plan.
- Strategy signal: the move sharpens the kraken tokenization strategy.
Why the Kraken–Backed Finance acquisition matters: unifying tokenized equities
The Kraken Backed Finance acquisition December 2025 lets Kraken combine issuance and trading under one roof. That means fewer hops for tokenized stocks and etfs from creation to secondary markets. It also builds on what Kraken already offers from Backed, often referenced as xstocks tokenized equities in coverage.
Zoom in: bringing issuance in-house could speed listings, reduce operational friction, and standardize disclosures. However, integration depth will still depend on regulatory pathways. Put simply, kraken buys backed finance to accelerate the kraken tokenization strategy.
Market position of Backed Finance
Backed is a leading issuer of tokenized public stocks. One dataset cited by The Block pegs its share near 23%, while Finance Magnates notes roughly 20% and a second-place ranking. Moreover, coverage points to about 71 assets issued on-chain. This scale gives Kraken a ready pipeline, however, concentration risks remain.
Timeline: December 2025 announcement and the kraken 2026 ipo plan
Kraken announced the agreement in early December 2025. The move fits a clearer kraken tokenization strategy as the company prepares for the kraken 2026 ipo plan, according to available reports. Therefore, expect subsequent disclosures that clarify structure and governance.
What the Kraken Backed Finance acquisition December 2025 changes for users
For users, deeper integration should make token discovery and trading simpler on Kraken. In practice, tokenized stocks and etfs sourced from Backed may arrive with tighter coordination across listings and updates. That includes assets often grouped as xstocks tokenized equities, according to available reports.
Pros: shorter launch cycles, clearer product taxonomy, and one support channel. Cons: consolidation risk, potential jurisdictional frictions, and ongoing questions around custody and compliance.
The upshot: improvements depend on execution and oversight. Still, a unified stack tends to reduce fragmentation and complexity.
What’s next
What’s next: watch for integration timelines, any regulatory filings, and IPO milestones. Deal terms remain undisclosed. Key dates tied to the kraken 2026 ipo plan will signal how aggressively Kraken sequences token launches. Until then, expect periodic updates on the kraken tokenization strategy.
