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CEX will acquire Backed Finance to promote tokenization development.

On December 2, Bloomberg reported that the encryption trading platform CEX is acquiring a tokenization asset platform, showing its confidence in Blockchain stock trading. In a statement on Tuesday, CEX announced that it will acquire Backed Finance—a platform for the issuance of digital Tokens representing real assets, including shares and Exchange-Traded Fund (ETF) shares. CEX Co-CEO Arjun Sethi stated in an interview that CEX has already offered stocks and ETFs issued by Backed, and after the acquisition is completed, plans to integrate these products more closely into its platform.

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