Kraken-backed xStocks launches on TON Wallet, bringing tokenized U.S. equities to Telegram
xStocks, the Kraken-backed tokenized securities platform, has launched on TON Wallet — the self-custodial wallet embedded in Telegram — allowing users to buy, hold and transfer onchain tokenized U.S. equities (examples: TSLAx, SPYx, NVDAx) alongside hundreds of crypto assets in a single non-custodial portfolio. The TON deployment follows earlier launches on Solana and Ethereum and is part of xStocks’ multichain expansion (previous TRON integration noted). TON Wallet’s near-100 million user reach could materially broaden retail access to tokenized equities. Since xStocks’ June 30, 2025 debut, onchain supply rose by roughly $60M between November and December to exceed $180M and nearly 50,000 unique wallets hold xStocks. Kraken is advancing wider infrastructure plans — including planned deployments on Mantle and TRON and a move to acquire Backed Finance to unify issuance, trading and settlement. The launch is positioned as a UX and distribution improvement that may accelerate real-world asset tokenization; however, platforms remain cautious as regulators continue security assessments. Key keywords: xStocks, TON Wallet, tokenized equities, Kraken, Telegram integration.
Neutral
The launch is market-positive for tokenization adoption and distribution — expanding retail access via Telegram’s large user base and consolidating stocks with crypto in a non-custodial wallet. That increases potential demand for tokenized-equity products and supports xStocks’ multichain growth narrative, which is constructive for platforms and liquidity over time. However, immediate price impact on major cryptocurrencies mentioned (TON, SOL, ETH) is likely muted: the news is about product integration and distribution, not a protocol upgrade or tokenomics change. Regulatory uncertainty around tokenized securities adds caution; traders may wait for clearer compliance outcomes and user engagement metrics before moving positions. Short-term reaction could be limited to increased interest in tokenization-related projects; long-term effects depend on adoption, regulatory clarity, and Kraken/Backed execution.