Telegram’s built-in wallet, Wallet in Telegram, is teaming up with Backed (operator of xStocks) and crypto exchange Kraken to allow users to access tokenized U.S. stocks & ETFs.
- Initial rollout: Starting in October 2025, Telegram will offer a new “Stocks & ETFs” section within the custodial Wallet in Telegram platform. The first batch will include ~35 tokenized stocks.
- Expansion: By end of 2025, the offering is expected to grow to 60 tokenized equities. Also, Telegram plans to roll this out in its self-custodial TON Wallet in Q4 2025.
Key Details & Features
| Feature | Details |
|---|---|
| Type of Assets | Tokenized versions of US equities & ETFs — each token is fully collateralized 1:1 with the underlying real stock or fund. |
| Initial Asset List Example | Includes stocks like NVIDIA (NVDA), MicroStrategy (MSTR), Coinbase (COINX), Robinhood (HOODX), etc. |
| Markets & Regions | Roll-out will begin in emerging markets. Telegram hasn’t yet disclosed exactly which countries will see the service first. Cointelegraph |
| Pricing / Fees | Trading these tokenized stocks & ETFs will be commission-free until end of 2025. Withdrawal or other standard service fees may apply later. |
| Exclusions | Bitcoin ETFs will not be included in this offering. Users will still be able to buy Bitcoin as a crypto asset via the wallet. |
Why It Matters
- Bridging TradFi & Web3: This move helps bring traditional finance (stocks/ETFs) into a Web3-friendly environment (Telegram / TON). Users may no longer need separate broker accounts or traditional platforms to access major U.S. equities.
- Accessibility: Especially significant for users in emerging markets who often have limited access to U.S markets due to regulatory, operational or cost barriers.
- Convenience & Integration: Having tokenized stocks inside an app people already use daily (Telegram) reduces friction and may increase adoption.
- Self-custody aspect: Expansion into TON Wallet means more control for users over their assets (custodial vs self-custodial), which aligns with crypto’s decentralization ethos.
Possible Challenges & What We Should Watch
- Regulatory hurdles: Tokenized stocks may face securities laws / financial regulatory scrutiny in many jurisdictions. Which markets will be eligible will depend heavily on local laws.
- Liquidity, pricing, and spreads: Tokenized assets must mirror the underlying asset’s price closely. If not, arbitrage or pricing inefficiencies might impact users.
- User risk & security: Custodial vs self-custodial implies different risk profiles. Withdrawal mechanics, custody of private keys, etc., will matter.
- Adoption: Even with committed rollout, success depends on how many users try it, how smoothly the service works, and how it competes with traditional brokers or other tokenization platforms.
Timeline & What to Expect
- October 2025: Launch of the “Stocks & ETFs” section in Wallet in Telegram with ~35 tokenized assets.
- Q4 2025: Expansion to TON Wallet (self-custodial) and increase in number of tokenized stocks/ETFs to 60.
- Emerging markets first, followed by potential global expansion (depending on regulatory acceptance
