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Telegram Users Trade Stocks on TON Blockchain
30 Dec
Summary
- xStocks on TON enables Telegram users outside US to trade tokenized stocks.
- Kraken's backing adds credibility to the tokenized stock trading platform.
- Tokenized stocks offer creditor rights, not direct ownership of shares.
Kraken-backed xStocks has launched on the TON blockchain, allowing Telegram users outside the United States to trade tokenized US stocks and ETFs directly within the messaging application. This initiative expands the growing market for tokenized assets, joining existing platforms on Solana and Ethereum that collectively hold approximately $180 million in assets.
The integration with TON, which deeply connects with Telegram's over one billion users, aims to simplify the trading process. Users can now access stock market exposure without a traditional brokerage account, making it feel more akin to sending a message. Kraken's involvement lends significant credibility to this new venue.
These xStocks tokens represent a claim on real-world assets, granting holders creditor rights to collateral held by custodians. This distinction is crucial, as it means investors are betting on the legal framework and custodian's stability as much as stock performance, offering a novel approach to financial accessibility.
