Kraken Floats xStocks on TON to Expand Tokenized Equities

Kraken crypto exchange has announced it is launching its xStockson on The Open Network (TON) blockchain. The xStocks, tokenized versions of U.S. stocks and exchange-traded funds (ETFs), will be integrated into the Telegram built-in TON Wallet.

Benefits for Telegram Users

Kraken revealed in a blog post that the integration allows millions of Telegram users to buy, hold, and transfer digital tokens that represent real U.S. stocks. They can trade tokenized versions of blue-chip companies like TSLAx, SPYx, and NVDAx, right inside the Telegram app.

Through the expansion, investing in U.S. equities becomes as easy as sending a message, but on the blockchain.

TON Foundation President and CEO Max Crown shared his opinion about the development. He sees the move as a major advancement for real-world asset adoption on TON. Max added that almost 100 million users can now hold and trade tokenized U.S. equities with ease via self-custody.

Beyond the benefit for users, the xStock expansion on TON moves the entire ecosystem forward. It also accelerates the path toward mainstream and borderless finance.

The integration aligns with Kraken’s move to boost its role in the tokenized stock market by buying Backed Finance.

Why is xStocks Launching on TON and Telegram?

The TON blockchain is closely tied to Telegram, a popular messaging platform with over 900 million users worldwide. Additionally, the TON Wallet is built directly into the Telegram app and has nearly 100 million users.

This integration puts xStocks in a tokenized assets section of the wallet, alongside regular cryptocurrencies. Thus, users get self-custody, with no intermediary holding the assets.

In the past, Wallet in Telegram successfully launched stocks and ETFs through its custodial solution, Crypto Wallet. Now, they are fully on-chain in the non-custodial TON Wallet, making it permissionless, instant, and global. Hence, this move represents a big step for real-world asset (RWA) adoption on the TON blockchain.

xStocks Gaining Widespread Interest

For emphasis, xStocks have generated strong early interest in just a few months of launching. xStocks publicly launched on Kraken on June 30, 2025. Since then, it has recorded nearly 50,000 unique wallet holders and over $180 million in on-chain assets.

By July, Kraken announced the expansion of xStocks to Solana and BNB Chain, in partnership with Backed. Just a few weeks later, specifically in August, Kraken revealed plans to launch xStocks on the Tron blockchain.