In a significant development for the cryptocurrency and finance sectors, xStocks has launched tokenized versions of U.S. equities on the TON blockchain, accessible through Telegram”s Wallet. This integration allows users to buy, hold, and transfer tokenized shares of prominent companies like Tesla and Nvidia directly within the messaging app.
The tokenized equities framework, owned by Kraken, marks an exciting expansion of xStocks, which had previously been available on the Ethereum and Solana blockchains. With this latest move, the platform aims to enhance user experience by providing seamless access to financial assets within a familiar environment.
As part of the rollout, Telegram users will have self-custodial access to U.S. equities alongside a variety of cryptocurrencies, all facilitated within the app”s ecosystem. This initiative promises to democratize access to financial markets, allowing users to engage with tokenized assets as easily as sending a message.
The launch is particularly timely, given the growing interest in decentralized finance (DeFi) and tokenization. By enabling access to tokenized exchange-traded funds (ETFs) and stocks, xStocks aims to attract a broader audience, especially as the initial launch garnered significant attention from users, even in select countries.
Since its inception in late June, xStocks has rapidly accumulated over $180 million in assets, with nearly 50,000 unique wallet addresses. The integration into the TON ecosystem is expected to further accelerate this growth, enhancing the overall user experience and expanding the platform”s reach.
Arjun Sethi, co-CEO of Kraken, emphasized the groundbreaking nature of this initiative, stating, “For the first time, millions of people gain on-chain access to U.S. equities inside Telegram with the same ease as sending a message.” He highlighted that this development exemplifies the true potential of tokenization, where financial assets become accessible and composable on open networks.
Looking ahead, Kraken is also in the process of acquiring Backed Finance to streamline the issuance, trading, and settlement of tokenized equities on xStocks, further solidifying its position in the rapidly evolving tokenized finance landscape.
