Tokenized equities are coming to Telegram through a partnership among Wallet in Telegram, xStocks operator Backed and the US crypto exchange Kraken.
Wallet in Telegram, a third-party crypto wallet app on Telegram, has partnered with Kraken and Backed to offer 60 tokenized versions of US equities, including Strategy (MSTR) and Nvidia (NVDA), via xStocks, the platform announced on Wednesday.
“The rollout will start in a limited number of markets as we carefully test adoption and user experience,” Wallet in Telegram’s spokesperson told Cointelegraph, highlighting focus on compliance while targeting broad access to tokenized equities over time.
Following the initial rollout within the custodial Wallet in Telegram, the wallet plans to expand the offering across the self-custodial solution, TON Wallet, in the fourth quarter of the year.
Bitcoin ETFs not included
Wallet in Telegram’s users will be able to access the new product in the section “Stocks and ETFs,” which will begin rolling out in October.
The initial rollout will feature 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, featuring only tokenized US stocks and ETFs, 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 are fully collateralized 1:1 and issued under a compliant prospectus with detailed investor disclosures,” the wallet’s spokesperson said.
“This transparency and compliance set xStocks apart from other tokenized equity offerings,” the representative added.
Trading tokenized stocks and ETFs in Wallet in Telegram will be commission-free until the end of 2025. “Standard fees will apply to withdrawals of tokenized stocks and ETFs,” the company said.
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The launch of xStocks on Wallet in Telegram came shortly after Telegram founder and CEO Pavel Durov revealed that he is an early Bitcoin (BTC) investor, with the asset serving as a significant source of his income.
“I was a big believer in Bitcoin since more or less the start of it. I got to buy my first few thousand Bitcoin in 2013, and I didn’t care much,” he said in an interview with research scientist Lex Fridman posted on Tuesday.
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