The tokenized securities platform xStocks, backed by Kraken, is now available on TON Wallet, which is a self-custodial wallet integrated with the Telegram messenger.
After an initial rollout in the Telegram Wallet, xStocks officially launched on TON Wallet, which operates on the Telegram-linked blockchain, The Open Network (TON), as announced by Kraken on Thursday.
“The launch of xStocks on TON introduces tokenized equities to a truly open infrastructure,” stated Kraken co-CEO Arjun Sethi, highlighting that it is the first opportunity for Telegram users to access tokenized US equities on-chain.
The initial offering will feature 10 tokenized stocks, including Apple (AAPLx), Amazon (AMZNx), Coinbase (COINX), Google (GOOGLx), and MicroStrategy (MSTRx), collectively representing at least 95% of turnover, according to a spokesperson for TON Wallet.
The offering is not available in the US, EU, and Australia
“Stocks and ETFs will be accessible in almost all markets where TON Wallet is currently operational,” remarked Egor Danilov, chief product officer at The Open Platform (TOP) and Wallet in Telegram, to Cointelegraph.
Nevertheless, key markets such as the US, the European Union, and Australia won’t have access at launch, he noted, explaining that the rollout complies with regulatory standards and xStocks’ existing framework.
“Access will gradually expand as regulatory guidance permits,” noted Danilov, emphasizing that xStocks will not be available in the US or to US persons. “Distribution will continue to adhere to regional rules and licensing requirements,” he added.
The US market remains a consideration for some tokenization firms
The limited geographic rollout of xStocks on TON reflects the company’s belief that tokenized US equities should initially target customers in developing markets rather than advanced economies.
“The introduction of xStocks onto TON is part of that shift — enabling real financial products to be accessible globally through familiar digital tools, rather than exclusively through financial institutions in developed markets,” Danilov explained to Cointelegraph.
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On the other hand, some leading tokenization providers maintain a more positive outlook on the US market. Securitize, one of the largest firms in the field, has indicated that it sees a viable regulatory path for tokenized securities in the United States, with its tokenized stocks already available to US investors.
On December 9, Securitize CEO Carlos Domingo informed Cointelegraph that the company’s experience indicates there is a “clear regulatory path for issuers to natively tokenize assets for US investors.”
