xStocks, a platform for tokenized securities backed by Kraken, has launched on TON Wallet, a self-custodial wallet on Telegram. This marks the first time Telegram users can access tokenized US equities onchain. The offering includes 35 tokenized stocks but is not available in the US, EU, and Australia initially.

Egor Danilov, chief product officer at The Open Platform, stated that stocks and ETFs on xStocks will be accessible in most markets where TON Wallet is available, following regulatory requirements. However, the launch excludes key markets like the US, EU, and Australia. Access will expand gradually based on regulatory guidance.

XStocks’ limited geographic rollout on TON aims to target customers in developing markets first. This move is part of a shift towards making real financial products globally available through digital tools, rather than solely through financial institutions in developed markets. Some tokenization firms see a viable regulatory pathway for tokenized securities in the US.

Read more at Cointelegraph: Kraken-Backed xStocks Launches Tokenized Stocks On TON