Telegram Wallet to Offer Tokenized US Stocks with Kraken Partnership
Telegram Expands Into Tokenized Equities
Telegram is integrating traditional finance with crypto through a new partnership involving Wallet in Telegram, xStocks, and Kraken. This initiative will allow users to access tokenized versions of US equities directly within the messaging platform.
- Wallet in Telegram serves as the access point for trading these tokenized stocks and ETFs.
- The partnership with xStocks and Kraken supports seamless trading of fractions of these equities, broadening market accessibility.
- This expansion marks a significant development in Telegram’s crypto ecosystem, moving beyond digital assets to include tokenized securities.
The launch, expected in late October, will initially offer over 60 tokenized US assets, including major companies like Nvidia, Tesla, and MicroStrategy, all backed by a 1:1 collateralization framework. Fractional ownership will enable 24/5 trading, reducing barriers for global investors.
xStocks will be available on the TON blockchain in Q4, enhancing Telegram's financial ecosystem by leveraging blockchain technology and its vast user base.
Toncoin (TON) Market Analysis
Toncoin is currently trading around $2.80 after a modest rebound of 3.6%. Despite this, the broader trend remains bearish, having declined from over $8.50 in early 2024.
- TON is trading below its 50, 100, and 200-period moving averages, indicating weak momentum.
- The $3.00 resistance zone remains critical; failure to break above it could lead to further decline.
- Support ranges between $2.50–$2.70. A breakdown could push prices toward $2.00, whereas a successful defense might trigger consolidation and potential upward movement.