[Kraken to Acquire Tokenized Asset Platform Backed Finance] According to Bloomberg, cryptocurrency exchange Kraken has announced its acquisition of the tokenized asset platform Backed Finance. Kraken Co-CEO Arjun Sethi stated in an interview that Kraken has already been offering stock and ETF products issued by Backed, and after the acquisition is completed, the plan is to integrate these products more closely into its platform. Sethi said: 'While everyone is talking about tokenized stocks, we have already been putting it into practice.' 'We focus on long-term investment, not hype.' Kraken did not disclose the terms of the deal. Data from rwa.xyz shows that Backed Finance is currently the second-largest platform in the tokenized publicly listed stocks sector, with a market share of approximately 23%. Backed's xStocks products provide exposure to over 60 tokenized stocks and ETFs, all of which are backed 1:1 by underlying assets.