Kraken-Backed xStocks Brings Tokenized US Equities to Telegram
Kraken-backed xStocks have launched tokenized versions of U.S. stocks and ETFs on the TON blockchain, making them accessible via Telegram’s built-in TON Wallet. This integration enables users to buy, hold, and transfer tokenized equities—such as Tesla, Nvidia, and S&P 500 ETF—directly inside the app, bypassing traditional brokers and offering fractional access by default. The service targets a global audience, especially those outside the U.S. or EU, providing an easy entry point to equities; however, trading is still limited to U.S. market hours rather than operating 24/7, blending traditional finance constraints with a crypto-oriented user experience. xStocks tokens are fully collateralized and backed one-to-one by underlying assets held with regulated partners, although the product excludes U.S. residents for regulatory reasons. The initiative aims to scale adoption of tokenized equities by leveraging Telegram’s massive user base (over 900 million), addressing previous barriers such as limited distribution and regulatory challenges. Kraken’s broader strategy includes platform expansion and recent acquisitions to consolidate issuance, trading, and settlement of these products.
