Tokenized US Stocks & ETFs Coming To Telegram Wallet Via Kraken & BackedFi
Telegram is taking one other step towards bridging conventional finance with crypto. Through a brand new partnership amongst Wallet in Telegram, xStocks operator Backed, and US-based crypto trade Kraken, tokenized equities will quickly be out there instantly throughout the messaging platform. The announcement, made on Wednesday, confirms that customers will acquire entry to tokenized variations of US equities.
Wallet in Telegram, a third-party crypto pockets app built-in into the Telegram ecosystem, will function the gateway for this new providing. By leveraging xStocks, which focuses on tokenized belongings, and Kraken’s infrastructure, the platform goals to ship seamless buying and selling of tokenized shares and ETFs. Users will have the ability to buy fractions of those equities in digital kind, opening entry to markets which are sometimes much less inclusive.
This transfer represents a big evolution in Telegram’s crypto ecosystem, increasing past digital belongings into the tokenization of conventional securities. It additionally underscores the rising function of tokenized finance in making equities extra accessible, liquid, and tradable throughout international markets. With the launch deliberate for late October, traders are watching carefully to see how Telegram’s large consumer base responds to this new frontier.
Wallet In Telegram Unlocks Tokenized Equities
The information was shared by Wallet in Telegram’s chief technique officer, Halil Mirakhmed, throughout Token2024 Singapore, highlighting the venture’s mission to merge conventional monetary markets with Web3 accessibility.
At the identical occasion, Max Crown, President & CEO of the TON Foundation, outlined the importance of the transfer in his keynote at Token2049. He emphasised that the partnership with xStocks, in collaboration with Kraken and Backed, will enable over 100 million Telegram customers to entry greater than 60 tokenized US belongings at launch. These will embrace main names akin to Nvidia (NVDA), Tesla (TSLA), and MicroStrategy (MSTR), all backed by a 1:1 collateralization framework to make sure belief and transparency.
One of probably the most notable options of this integration is fractional possession, which permits customers to buy small parts of high-value shares that may in any other case stay inaccessible. Trading may even be out there 24 hours a day, 5 days every week, breaking away from the restrictions of conventional US market hours. This flexibility lowers obstacles for international traders and represents a serious step towards democratizing entry to equities.
Looking forward, xStocks is ready to turn into out there on the TON blockchain in This fall, additional cementing TON’s function as the muse for Telegram’s rising monetary ecosystem. By combining blockchain scalability, tokenization, and Telegram’s large consumer base, the initiative has the potential to redefine how thousands and thousands of individuals work together with conventional markets.
Toncoin Holds Support Amid Prolonged Downtrend
Toncoin (TON) is buying and selling round $2.80 after a modest rebound of almost 3.6% on the 3-day chart. Despite the short-term bounce, the broader pattern stays bearish, with TON locked in a protracted downtrend since peaking above $8.50 in early 2024. Price has persistently posted decrease highs and decrease lows, signaling persistent promoting strain.
The transferring averages reinforce this image. TON stays effectively beneath its 50-period (blue), 100-period (inexperienced), and 200-period (pink) transferring averages. The incapacity to reclaim these ranges underscores weak momentum and the dominance of bears available in the market. The $3.00 space has turn into a essential resistance zone; with no decisive break above it, TON dangers additional sideways or downward motion.
Support continues to cluster close to $2.50–$2.70, the place consumers have stepped in repeatedly over the previous months. A breakdown beneath this degree may speed up losses towards $2.00, whereas a profitable protection could enable the token to consolidate and try one other push larger.
Featured picture from ChatGPT, chart from TradingView.com
