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From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram

Thursday, 18/12/2025 | 16:05 GMT by Jared Kirui
  • Through TON Wallet, users can reportedly hold, transfer, and manage tokenized equities alongside their crypto assets in a single interface.
  • Kraken’s planned acquisition of Backed Finance will enable the exchange to unify the issuance, trading, and settlement of tokenized stocks.
Telegram (shutterstock)

xStocks has launched its tokenized equities on the TON blockchain, enabling Telegram users to buy and trade fully collateralized versions of U.S. stocks and ETFs directly through the platform’s integrated TON Wallet.

The move expands onchain access to traditional financial assets for nearly 100 million users within Telegram’s growing ecosystem. xStocks announced its deployment on the TON blockchain, expanding access to tokenized equities for users within Telegram.

Early this month, Kraken agreed to acquire Backed Finance, the platform behind the issuance of xStocks, bringing these tokenized products closer to the center of its trading business as the exchange prepares for a planned public listing in 2026.

According to the company, the integration with TON Wallet, Telegram’s non-custodial asset hub, enables users to hold, transfer, and manage tokenized stocks and ETFs alongside their crypto assets in a single interface.

xStocks Brings Equities Onchain

Recently, Telegram announced that it was preparing to let users trade tokenized U.S. stocks directly inside its built-in crypto wallet, following a partnership with Kraken and tokenization provider Backed.

“Launching xStocks on TON brings tokenized equities onto truly open infrastructure,” Arjun Sethi, Kraken Co-CEO said. “For the first time, millions of people gain onchain access to U.S. equities inside Telegram with the same ease as sending a message. Instantly, globally, and without traditional gatekeepers.”

Read more: Kraken Taps Alpaca for xStocks After Backed Finance Acquisition

The integration reportedly allows users access to more than 60 tokenized U.S. stocks and exchange-traded funds (ETFs). By embedding tokenized equities directly into the messaging platform, Telegram aims to let users buy and sell traditional market exposure without needing to switch apps or use a separate brokerage interface.

Already live on Solana and Ethereum, xStocks continues its expansion as a multichain standard for tokenized equities. The TON rollout comes after steady onchain growth, surpassing $180 million in assets and nearly 50,000 wallets holding these instruments since its June 2025 launch on Kraken.

Expanding the Multichain Footprint

This interoperability—allowing assets to move freely between blockchain ecosystems—solidifies xStocks’ position as a cornerstone of the emerging onchain capital markets.

With additional deployments planned for Mantle and TRON, as well as the acquisition of Backed Finance, xStocks aims to unify the issuance, trading, and settlement of tokenized securities.

Meanwhile, Nasdaq is prioritizing approval for tokenized stocks and is preparing to address regulatory questions as soon as the U.S. Securities and Exchange Commission clarifies its position. The exchange aims to be ready to respond quickly to any feedback or requirements that emerge during the review process.

xStocks has launched its tokenized equities on the TON blockchain, enabling Telegram users to buy and trade fully collateralized versions of U.S. stocks and ETFs directly through the platform’s integrated TON Wallet.

The move expands onchain access to traditional financial assets for nearly 100 million users within Telegram’s growing ecosystem. xStocks announced its deployment on the TON blockchain, expanding access to tokenized equities for users within Telegram.

Early this month, Kraken agreed to acquire Backed Finance, the platform behind the issuance of xStocks, bringing these tokenized products closer to the center of its trading business as the exchange prepares for a planned public listing in 2026.

According to the company, the integration with TON Wallet, Telegram’s non-custodial asset hub, enables users to hold, transfer, and manage tokenized stocks and ETFs alongside their crypto assets in a single interface.

xStocks Brings Equities Onchain

Recently, Telegram announced that it was preparing to let users trade tokenized U.S. stocks directly inside its built-in crypto wallet, following a partnership with Kraken and tokenization provider Backed.

“Launching xStocks on TON brings tokenized equities onto truly open infrastructure,” Arjun Sethi, Kraken Co-CEO said. “For the first time, millions of people gain onchain access to U.S. equities inside Telegram with the same ease as sending a message. Instantly, globally, and without traditional gatekeepers.”

Read more: Kraken Taps Alpaca for xStocks After Backed Finance Acquisition

The integration reportedly allows users access to more than 60 tokenized U.S. stocks and exchange-traded funds (ETFs). By embedding tokenized equities directly into the messaging platform, Telegram aims to let users buy and sell traditional market exposure without needing to switch apps or use a separate brokerage interface.

Already live on Solana and Ethereum, xStocks continues its expansion as a multichain standard for tokenized equities. The TON rollout comes after steady onchain growth, surpassing $180 million in assets and nearly 50,000 wallets holding these instruments since its June 2025 launch on Kraken.

Expanding the Multichain Footprint

This interoperability—allowing assets to move freely between blockchain ecosystems—solidifies xStocks’ position as a cornerstone of the emerging onchain capital markets.

With additional deployments planned for Mantle and TRON, as well as the acquisition of Backed Finance, xStocks aims to unify the issuance, trading, and settlement of tokenized securities.

Meanwhile, Nasdaq is prioritizing approval for tokenized stocks and is preparing to address regulatory questions as soon as the U.S. Securities and Exchange Commission clarifies its position. The exchange aims to be ready to respond quickly to any feedback or requirements that emerge during the review process.

Topics
tokenization
About the Author: Jared Kirui
Jared Kirui
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About the Author: Jared Kirui
Jared is an experienced financial journalist passionate about all things forex and CFDs.
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