Kraken-backed xStocks launched Wednesday on the TON blockchain, embedding tokenized versions of U.S. stocks and ETFs directly inside Telegram’s built-in wallet. Now, the messaging app’s 900 million users can buy, hold, and transfer equity tokens representing Tesla, Nvidia, and the S&P 500 without leaving the platform or opening brokerage accounts.
The launch represents one of the most significant attempts yet to bring tokenized financial products to mass-market distribution channels, rather than keeping them confined to cryptocurrency exchanges.
xStocks already manages $180 million in on-chain assets across nearly 50,000 unique wallet addresses, adding roughly $60 million between November and December alone.
“Embedding tokenized U.S. stocks into Telegram Wallet is a massive UX unlock,” Dan Dadybayo, research and strategy lead at Unstoppable Wallet, told reporters. “Stocks start to feel like a native internet object, not a brokerage product.”
See also: Tottenham Hotspur Announces New Sleeve Partnership Deal with Kraken
For users outside the U.S. and EU, accessing traditional stock markets typically requires navigating complex brokerage onboarding, minimum deposit requirements, and jurisdiction-specific restrictions.
Now, Telegram’s integration eliminates most of those barriers. Users with a TON Wallet, which claims nearly 100 million users according to project figures, can now buy fractional shares of major U.S. companies with just a few taps inside a messaging app they already use daily.
“For many users, especially outside the U.S. or EU, this is the first time equities are one tap away: no broker account, no complex onboarding, fractional by default,” Dadybayo noted.
The accessibility matters particularly in markets where traditional financial infrastructure remains underdeveloped or where cross-border investing faces regulatory hurdles.
Despite launching on a blockchain that operates continuously, xStocks tokens face constraints inherited from traditional markets. “There’s a key friction point people underestimate: these assets still trade 24/5, not true 24/7,” Dadybayo explained. “Even though the tokenized assets live on-chain and can technically move anytime, pricing, corporate actions, and redemptions remain anchored to U.S. market hours.”
“For a crypto-native audience used to always-on DeFi, weekends are effectively dead time, which breaks the mental model of seamless on-chain finance,” Dadybayo said. “In practice, this blends TradFi constraints with crypto UX—powerful, but not fully native yet.”
The tokens can move between wallets 24/7, but their prices only update during U.S. stock market hours. Someone buying TSLAx tokens at 2 a.m. on Sunday gets Friday’s closing price, not real-time valuation.
So, corporate actions like dividends or stock splits require coordination with traditional market infrastructure that doesn’t operate on blockchain time.
See also: Solana’s Decline Coincides with FTX-Linked Address Transfers to Kraken and Binance
Tokenized equities have existed for years through platforms like Synthetix and Mirror Protocol, but adoption remained limited to crypto trading platforms with relatively small user bases. Earlier efforts struggled with liquidity, regulatory uncertainty, and narrow distribution concentrated among DeFi enthusiasts who already had access to traditional brokerages.
Telegram changes that equation dramatically. The platform claims 900 million users across markets where traditional financial services are often expensive, restricted, or inaccessible. TON Wallet’s claimed 100 million users represent a distribution channel that dwarfs any crypto exchange’s user base.
xStocks isn’t available to U.S. users and is limited to jurisdictions where the tokens can be legally offered. The service hasn’t registered under the U.S. Securities Act of 1933, relying instead on careful jurisdictional controls that restrict access based on user location.
For Kraken, the TON integration fits into wider ambitions around tokenized assets. The exchange recently announced plans to acquire Backed Finance to consolidate the issuance, trading, and settlement of xStocks products. Support for additional blockchains is already underway, including Mantle and TRON, suggesting Kraken views multi-chain distribution as critical to scaling adoption.
The Backed Finance acquisition gives Kraken control over the entire stack from token issuance through trading infrastructure.
See also: Breaking : TON Blockchain Recovers After DOGS-Related Outage
Whether tokenized equities on Telegram represent a breakthrough or another false start for crypto-TradFi convergence depends on factors beyond just distribution. Regulatory clarity, liquidity development, user education, and competition from traditional finance all play roles.
Traditional brokerages haven’t stood still. Commission-free trading, fractional shares, and mobile-first interfaces have made stock investing more accessible than ever through established platforms. xStocks must offer compelling advantages beyond just blockchain presence to attract users who already have working solutions.
If you’re reading this, you’re already ahead. Stay there by joining Dipprofit’s private Telegram community.
Discover more from Dipprofit
Subscribe to get the latest posts sent to your email.
