- Crypto Briefing
- Authors
- Louis Tellier
Kraken Brings xStocks Inhouse with Acquisition of Backed
On Tuesday, Kraken announced the acquisition of Backed Finance AG, the Swiss tokenization specialist behind the xStocks standard for tokenized equities. While financial terms were not disclosed, the deal marks Kraken’s fifth acquisition in 2025 and follows its recent $800 million capital raise valuing the exchange at $20 billion.
Robinhood Acquires U.S. Derivatives Exchange, Doubles Down on Prediction Markets
On Tuesday, Robinhood announced the acquisition of the U.S. derivatives exchange MIAXdx. The move deepens the neobroker’s push into prediction markets by providing it with the necessary CFTC licenses to originate and clear event contracts on its own platform, eliminating dependence on third-party infrastructure.
Circle Launches xReserve for USDC-Backed Stablecoins
On Tuesday, stablecoin giant Circle introduced xReserve, a new service that lets blockchain teams launch their own stablecoins backed by USDC. The offering is designed to help new networks bootstrap stablecoin supply without waiting for native USDC issuance, which has historically been both costly and slow to integrate.
SG-FORGE Officially Enters DeFi, Aims To Boost Stablecoin Growth
On Tuesday, Société Générale, via its blockchain arm SG-FORGE, has become the first global systemically important bank (G-SIB) to integrate its euro (EURCV) and dollar (USDCV) stablecoins into leading DeFi protocols.
