xStocks Introduces Tokenized U.S. Stocks on TON Blockchain via Telegram Wallet

The tokenized equities framework, xStocks, is expanding its offerings to the Open Network (TON). This platform is set to allow users to buy, hold, and transfer tokenized versions of top companies’ stocks, such as Tesla (TSLAx) and Nvidia (NVDAx), within the TON Ecosystem.

According to an announcement made to CryptoPotato, this launch will enable Telegram users to access U.S. equities on-chain alongside a wide array of cryptocurrencies, directly through the app.

xStocks Launches on TON Blockchain

Following this introduction, users can easily manage tokenized versions of prominent stocks and exchange-traded funds (ETFs) within TON Wallets. This expansion comes soon after Telegram’s Wallet initially offered stocks and ETFs in late October.

The announcement has sparked significant interest among users, despite being limited to select countries. With this new partnership, xStocks aims to enhance user engagement as it integrates into TON Wallet.

“Bringing xStocks fully on-chain in TON Wallet represents a major advancement for real-world asset adoption on TON… This breakthrough delivers real, tangible financial utility to everyday users and cements TON as the leading blockchain for regulated assets,” commented Max Crown.

Continued Growth for xStocks

Since its inception in partnership with Backed Finance last June, xStocks has rapidly grown and is already functioning on Ethereum and Solana blockchains. The incorporation into TON marks its third ecosystem deployment, focusing on paving a multichain future that emphasizes global reach and interoperability.

Currently, xStocks holds over $180 million in assets with nearly 50,000 unique wallet addresses.
The impact of its arrival on TON is yet to be seen in terms of user growth.

Kraken’s Co-CEO, Arjun Sethi, stated: “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. This represents the genuine potential of tokenization.”
“As financial assets move onto open networks, they become neutral, composable building blocks that anyone can use.”

Meanwhile, Kraken is also pursuing the acquisition of Backed Finance to unify the issuance, trading, and settlement of tokenized equities on xStocks, as part of its broader expansion initiatives.