The tokenization market just delivered another major signal of growth. Nonce Classic has officially exited its investment in Backed Finance, shortly after Kraken acquired the platform — a move that highlights how quickly real-world asset (RWA) tokenization is becoming part of mainstream crypto infrastructure.
Kraken’s acquisition strengthens the case for tokenized stocks. Backed Finance built xStocks, fully collateralized digital tokens backed 1:1 by shares of major companies. This model brings traditional equities onto the blockchain, offering 24/7 access, global liquidity, and future integration with DeFi.
Nonce Classic’s early investment in Backed Finance paid off because they backed a regulated, compliance-first issuer at the right moment. Their exit shows how Web3 investors can benefit from infrastructure projects that connect TradFi and decentralized markets.
As tokenization expands, the industry will likely see more acquisitions, more integrations, and more demand for compliant RWA platforms. Kraken’s move is another sign that tokenized assets are transitioning from experiment to essential market infrastructure.
