Kraken-backed xStocks Launch on TON Bringing Tokenized US Stocks to Telegram
Kraken-backed xStocks are now live on the TON blockchain, enabling users to access tokenized US stocks and ETFs directly inside Telegram via the TON Wallet. These tokens provide onchain price exposure to the underlying assets without granting direct ownership of shares. Each token is fully collateralized 1:1 by the corresponding equities or ETFs held through regulated partners.
The service is not registered under the US Securities Act and is restricted by jurisdiction; notably, users in the US cannot access this offering. According to the TON Foundation, this integration allows users to hold and trade US equities with the same ease as sending a message, while maintaining self-custody through the TON Wallet.
Previously, Telegram’s wallet ecosystem offered custodial access to stocks and ETFs. The TON Wallet's usage benefits from the large Telegram user base, which includes approximately 900 million users, alongside around 100 million TON Wallet users.
The xStocks service is currently live on KrakenFX and Bybit Official, with a rollout on the Solana blockchain also underway. While tokenized equities are not a new concept, xStocks aim to increase adoption by embedding asset exposure directly inside a mainstream messaging app, thus testing mass distribution for tokenized equities.
