xStocks says it is bringing tokenized securities to Telegram’s one billion users.
According to a statement issued by the firm, tokenized securities will be available on the TON Blockchain, accessible via the non-custodial wallet in Telegram.
Max Crown, President and CEO of TON Foundation, said bringing these tokenized assets to the TON wallet is a significant advancement for RWA adoption on TON.
“Nearly 100 million users can now hold and trade tokenized U.S. equities with the same ease as sending a message in Telegram — instantly, globally, and held solely in their own custody,” said Crown.
Wallet in Telegram previously launched Stocks and ETFs via its custodial solution, Crypto Wallet. Expanding access through TON Wallet is expected to accelerate this growth.
xStocks launched on Kraken on June 30. They now report over $180m in onchain assets and nearly 50k unique wallet addresses holding them.
xStocks was developed in partnership with Kraken and Backed. The service offers collateralized, 1:1-backed by underlying equities and ETFs, and xStocks brings publicly listed companies and ETFs onto blockchain rails, giving global investors onchain access to U.S. capital markets.
As it is not regulated in the US, xStocks are not available in the United States or to U.S. persons.