Imagine buying a piece of Apple or Tesla as easily as sending a text message. That future is now a reality for millions. In a landmark move, Kraken-backed xStocks has officially launched on The Open Network (TON) blockchain, seamlessly integrating tokenized U.S. stocks and exchange-traded funds (ETFs) directly into Telegram’s native Wallet.
This integration places the power to buy, hold, and transfer assets like Tesla (TSLAx), Nvidia (NVDAx), and the S&P 500 ETF (SPYx) directly into the hands of Telegram’s nearly 100 million TON Wallet users. By merging traditional finance with the scale of a top messaging app, this launch marks a significant leap toward mainstream, borderless finance.
A Seamless, Self-Custodial Experience
The true innovation lies in the user experience. For the first time, tokenized equities are accessible through a fully non-custodial wallet embedded in a mainstream app. This means users maintain control of their private keys and assets, trading with “the same ease as sending a message”, as noted by Max Crown, President and CEO of the TON Foundation.
This shift toward self-custody on an open blockchain like TON is a major departure from earlier, custodial models. It unlocks the core Web3 promise of user-owned assets while leveraging a familiar interface where people already spend their time. The service also offers features attractive to a global audience, including fractional trading (starting with as little as $1) and 24/5 trading hours, though pricing remains tied to U.S. market sessions.
Backed by Institutional-Grade Infraestructure
This is not a speculative experiment but a robust financial product built on institutional rails. Each xStocks token is fully collateralized on a 1:1 basis by the underlying stock or ETF, held with regulated custodians like Alpaca, which recently deepened its partnership with Kraken to become the preferred venue for this backing. This ensures that for every token in circulation, a real share is held in custody, providing a gold standard of security and trust.
Kraken’s strategic acquisition of Backed Finance, the issuer of the tokens, further unifies the ecosystem under one roof, aiming to streamline the issuance, trading, and settlement of tokenized equities on a global scale. The initiative has already demonstrated strong demand, amassing over $180 million in on-chain assets and nearly 50,000 unique wallet holders since its public debut in June 2025.
Navigating a Global Regulatory Landscape
A key aspect of this rollout is its geographic targeting. The service is explicitly not available to users in the United States, the European Union, and certain other major jurisdictions due to regulatory restrictions. Instead, it focuses on providing access to global investors in regions that have been “historically shut out by geography, banking requirements, or platform restrictions”.
This strategic positioning allows the product to grow in markets eager for U.S. equity exposure while navigating complex securities laws. As regulatory pathways evolve, the partners are working to expand coverage. The momentum is part of a broader trend, with analysts pointing to tokenization’s potential to unlock segments of the vast $400 trillion traditional finance market.
The Road Ahead for On-Chain Finance
The launch on TON is a pivotal step in xStocks’ multichain strategy, following existing deployments on Solana and Ethereum, with plans to expand to Mantle and TRON. By bringing regulated, real-world assets onto open blockchain infrastructure inside one of the world’s largest apps, Kraken and TON are not just launching a product—they are building a foundational layer for the future of global capital markets.
For traders and investors worldwide, it represents a new paradigm: simpler, more direct, and more inclusive access to the wealth-building tools of modern finance, all from the palm of their hand. The next milestone is clear: expanding the asset roster and blockchain support to turn this promising start into a new global standard.
