Kraken’s tokenized equities platform, xStocks, is extending its footprint by entering the Open Network ecosystem. The company has announced plans to launch tokenized U.S. equities directly on the TON blockchain, supported through integration with Telegram’s non-custodial Wallet. This move positions xStocks to reach Telegram’s global user base while maintaining an on-chain, self-custodial structure.
The platform indicated that the rollout will enable Telegram users to gain direct on-chain access to U.S. equities alongside hundreds of cryptocurrencies without leaving the messaging application. By embedding tokenized stocks within a familiar interface, xStocks aims to reduce friction and make equity exposure more accessible to a broader audience.
Access to Blue-Chip Stocks and ETFs
Following the integration, users will be able to buy, hold, and transfer tokenized representations of well-known U.S. stocks across the TON ecosystem. The initial lineup includes tokenized versions of major blue-chip companies such as Tesla and Nvidia. In addition, xStocks plans to expand its offering directly into TON Wallets, extending access to a wider selection of equities and exchange-traded funds.
Telegram’s Wallet began offering tokenized stocks and ETFs in late October, initially limiting availability to a select group of countries. Despite these restrictions, the feature attracted strong interest from users. The integration of xStocks into TON Wallet is expected to accelerate adoption by expanding both the asset range and the underlying infrastructure supporting tokenized securities.
Implications for Real-World Asset Adoption
Leadership within the TON ecosystem has characterized the integration as a meaningful step forward for real-world asset adoption on the network. By bringing regulated financial instruments fully on-chain within TON Wallet, the initiative is expected to deliver tangible financial utility to everyday users. The development also reinforces TON’s positioning as a blockchain focused on hosting compliant, real-world assets in a consumer-friendly environment.
The move is seen as advancing the broader TON ecosystem by aligning blockchain infrastructure with practical financial use cases. Observers note that enabling tokenized equities inside a widely used application like Telegram could accelerate progress toward more open and borderless financial systems.
xStocks’ Multichain Growth Strategy
xStocks was launched by Kraken in partnership with Backed Finance in late June and has expanded rapidly since its debut. The platform is already live on Ethereum and Solana, making TON the third blockchain to support its deployment. This expansion reflects a deliberate multichain strategy aimed at maximizing global accessibility and interoperability.
A new asset class is live on TON.@xStocksFi : tokenized real-world equities, on-chain.
Powered by @BackedFi . Supported by @krakenfx .
Available in @tonwallet_tg , @tonkeeper , @mytonwallet_io , and more.
🔹 Self-custodial
🔹 DEX-tradable
🔹 Telegram-nativeHow it works and… pic.twitter.com/qPKpFFkWgb
— TON 💎 (@ton_blockchain) December 18, 2025
By operating across multiple networks, xStocks seeks to ensure that tokenized equities are not confined to a single ecosystem. The company has emphasized that a multichain approach allows users to interact with tokenized assets in environments that best suit their needs, whether for liquidity, cost efficiency, or user experience.
To date, xStocks has accumulated more than 180 million dollars in on-chain assets and has attracted nearly 50,000 unique wallet addresses. Market participants are watching closely to see how these figures evolve following the platform’s entry into the TON ecosystem, particularly given Telegram’s scale and reach.
Tokenization Meets Mass Distribution
Kraken’s leadership has highlighted that the integration represents a milestone in making tokenized equities accessible to a mass audience. By enabling on-chain access to U.S. equities within Telegram, the platform aims to offer the same simplicity as everyday digital interactions while removing traditional intermediaries. This approach underscores the broader vision behind tokenization, which seeks to transform financial assets into open, composable components that can be used globally.
As more regulated assets migrate onto open blockchain networks, initiatives like xStocks’ expansion into TON may signal a shift in how equities are accessed and distributed. The combination of blockchain infrastructure, self-custody, and mainstream applications could play a significant role in shaping the future of digital finance.
