Kraken announced it will acquire Switzerland-based Backed Finance, the tokenization firm it has already partnered with on its xStocks tokenized equity product. The deal aims to deepen Kraken’s real-world asset capabilities and expand its tokenized equity offering.
XStocks' 2025 surge pushed Solana into the top five networks powering tokenized equities, highlighting renewed demand for fast, low-cost chains. The shift signals growing institutional interest in tokenized real‑world assets and boosts SOL's relevance in RWA rails.