Kraken-back xStocks don launch tokenized US stocks for TON/Telegram

Published: 2025-12-28 16:30:46 |

Kraken-backed xStocks don launch for The Open Network (TON), wey dey make Telegram users wey dey outside USA fit trade tokenized US stocks and ETFs inside di chat app. xStocks don already dey operate for Solana and Ethereum with about $180M assets across ~50,000 wallets, and the TON rollout dey target Telegram native audience to open retail access to on-chain equities. Dem dey market the tokens as claim tickets — fully collateralized custodial securities wey dey held for Switzerland and Jersey — and Kraken recent acquisition of Backed Finance don centralize issuance, trading and settlement inside im stack. The service no allow US users and e get legal, custody and smart-contract risks: token holders go get creditor claims instead of regulated shareholder rights. For traders, expect more retail access, cross-chain market fragmentation (Solana, Ethereum, TON), more competition for RWA tokenization, and new counterparty/technical risks. Short-term fit bring higher demand and trading volumes for linked tokens on TON/Telegram; long-term fit mean tougher platform competition and more regulatory scrutiny. Key SEO keywords: tokenized stocks, TON, Telegram, xStocks, Kraken, RWA tokenization.

Neutral

Di news overall neutral for crypto market prices but e get mixed meaning for some assets. Short-term, the TON rollout fit sweet for TON-related activity and tokens wey join xStocks markets because added retail access on Telegram fit raise trading volume and demand for that chain. E fit also small help ecosystems wey dey host xStocks before (SOL, ETH) through cross-chain flows. But risks dey wey fit stop straight price boost: issuance na creditor-based (no be shareholder rights), U.S. exclusion reduce the market wey dem fit reach, and custody/regulatory plus smart-contract risks dey raise counterparty wahala wey fit cap speculative inflows. For long-term, more competition for RWA tokenization and likely regulatory scrutiny fit pressure valuations of special tokenization platforms or their tokens. Overall, expected net price effect soft — local demand go rise for TON and related on-chain trading pairs, balanced by counterparty, legal and fragmentation risks wey go hold back broader bullish momentum.