Kraken-Backed xStocks Brings Tokenized US Equities to Telegram

Core Insights - Kraken-backed xStocks has launched tokenized versions of U.S. stocks and ETFs on the TON blockchain, enabling users to buy, hold, and transfer these assets within the Telegram app through its TON Wallet [1][4] - The integration is seen as a significant user experience enhancement, making equities more accessible, especially for users outside the U.S. or EU, as it eliminates the need for a broker account and complex onboarding [2] - Despite the advantages, there are limitations as these tokenized assets still trade according to U.S. market hours, which may not align with the expectations of a crypto-native audience accustomed to 24/7 trading [3] Company and Industry Summary - The launch represents a strategic move to distribute tokenized financial products through mass-market channels rather than restricting them to crypto-native wallets and exchanges [3] - xStocks offers a fully collateralized product backed by underlying equities and ETFs, designed to trade on-chain while tracking the price of the underlying assets, but is not available to U.S. users due to regulatory constraints [5] - The legal structure of xStocks relies on jurisdictional controls, which may limit the expansion of its distribution model as regulatory scrutiny on tokenized assets increases [6]