Tokenized stocks come to Telegram through the partnership of Telegram’s Wallet, Xstocks operators and Crypto Exchange Kraken in the US.
Telegram’s third-party crypto wallet app Wallet in Telegram has partnered with Kraken to offer 60 tokenized versions of US stocks, including Strategs (MSTR) and Nvidia (NVDA) via Xstocks, announced Wednesday.
Telegram spokesperson Wallet told CointeLegraph, launching in a limited number of markets as we carefully test recruitment and user experiences,” highlighted the focus on compliance, targeting wide access to tokenized stocks.
Following its initial deployment within Telegram’s managed wallet, the wallet will expand its offering across Ton Wallet, a self-supporting solution, in the fourth quarter of the year.
Bitcoin ETF not included
Wallets for Telegram users will have access to new products in the Inventory and ETF section, which will begin rolling out in October.
The first rollout has 35 tokenized stocks, including Circle (CRCLX), Coinbase (Coinx), Robinhood (Hoodx), and Ton Strategy (Tonx).
“The list of assets will expand to over 60 by the end of 2025. [exchange-traded funds — each fully collateralized 1:1 with the underlying asset,” the representative of Wallet in Telegram told Cointelegraph, adding:
“Bitcoin ETFs will not be included in this offering; however, Bitcoin remains available for purchase as a crypto asset via the custodial Crypto Wallet.
Emerging markets as the first priority
In line with Backed’s tokenization focus on developing economies, Wallet in Telegram’s xStocks integration will initially roll out in emerging markets as its first priority.
Wallet in Telegram did not immediately respond to Cointelegraph’s request to clarify which countries would be among the first eligible jurisdictions for the offering.
Some previous xStocks integrations by platforms like crypto payment-focused Alchemy Pay restricted the offering in the US and sanctioned jurisdictions, while targeting support in more than 170 countries.
“From a regulatory perspective, XStocks will be issued under a compliant prospectus with fully secured 1:1 fully secured and detailed investor disclosure,” a Wallet spokesman said.
“This transparency and compliance sets up Xstock separate from other tokenized equity offerings,” the representative added.
Related: The SEC plans to allow blockchain-based stock trading amid crypto push: Report
The launch of Xstocks in Telegram’s wallet came shortly after Telegram founder and CEO Pavel Durov revealed that he was an early Bitcoin (BTC) investor and that his assets acted as a key source of his income.
“I had a great belief in Bitcoin, more or less. I was able to buy the first thousands of people in 2013.
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