Telegram Wallet launched tokenized shares of SK Hynix through xStocks, following the South Korean chipmaker's $26.5 billion U.S. share sale via American Depositary Receipts that began trading on Nasdaq Friday under ticker SKHYV. The offering was oversubscribed seven times, with institutional demand dominating allocations. Telegram's native crypto wallet is positioning tokenized equities as an alternative retail access channel for high-demand listings where traditional brokerage allocations favor institutional investors.
Telegram Wallet Reaches 150 Million Users With Embedded Equity Access
Wallet in Telegram provides tokenized equities with distribution through a messaging platform rather than a standalone brokerage app. The wallet is embedded inside Telegram's interface, reaching users who already interact with payments, crypto transfers, and Web3 services through the messaging app.
Telegram has more than 1 billion users, while Wallet in Telegram has more than 150 million registered users, according to company statements. This scale gives tokenized stock products access to a large potential retail audience, especially in markets where access to U.S.-listed equities can be fragmented, expensive, or limited by local brokerage infrastructure.
"Tokenized equities are redefining how people access global capital markets," Wallet in Telegram Chief Strategy Officer Halil Mirakhmed said. "We're seeing growing demand from retail investors who want the same opportunities traditionally available only to institutions."
The company framed the SK Hynix rollout as part of a broader push to expand retail access to high-demand listings. It said retail investors have historically received limited access to popular private offerings and IPOs, with institutional investors typically prioritized when allocations are oversubscribed.
Backpack and Ondo Finance Enable Solana-Based Trading Friday
SK Hynix tokenized shares are also available on Solana through Backpack and Ondo Finance, extending the product across crypto infrastructure used for tokenized assets and onchain finance.
Backpack launched 24/7 stock trading of select U.S. equities for international investors on Friday. The platform said it is initially allowing international investors to buy tokenized versions of SpaceX, Micron, and SanDisk.
The overlap between SK Hynix, Micron, and other technology-linked names reflects tokenized equity providers' focus on assets with strong retail demand, limited allocation access, or clear links to major investment themes such as AI, chips, private markets, and U.S. technology listings.
For Solana, Backpack, and Ondo, tokenized shares offer another way to connect blockchain rails with conventional financial assets. The business case depends on whether investors want continuous access, faster settlement, fractional exposure, and global availability enough to accept the additional platform and regulatory risks that come with tokenized products.
Tokenized Shares Carry Custody and Liquidity Risks
Tokenized equities are designed to track exposure to traditional shares, but they are not the same as holding ordinary shares directly through a conventional broker. Investors need to understand the structure behind each token, including custody, redemption rights, issuer obligations, trading venue rules, and whether the product gives economic exposure only or any shareholder-linked rights.
Liquidity is another key issue. A tokenized version of a high-demand stock may trade around the clock, but that does not guarantee deep order books, tight spreads, or smooth redemption during periods of market stress. Differences between token trading hours and the underlying equity market can also create price gaps.
Regulatory treatment remains a central uncertainty. Tokenized stocks sit between securities markets, crypto infrastructure, and cross-border retail access. That can make them attractive to international investors, but it also means rules may differ by jurisdiction and could change as regulators pay closer attention to tokenized securities.
For Wallet in Telegram, the SK Hynix launch expands its role beyond crypto payments and yield products. Earlier this year, the platform rolled out onchain yield options for holders of Bitcoin, Ethereum, and USDT. Adding tokenized equities pushes the product closer to a financial super-app model, where messaging, crypto custody, yield, and stock exposure sit inside the same user interface.
FAQ
What tokenized shares did Telegram Wallet launch on Friday?
Telegram Wallet launched tokenized shares of SK Hynix through xStocks, following the chipmaker's $26.5 billion American Depositary Receipt listing on Nasdaq under ticker SKHYV. The offering was oversubscribed seven times.
How many users does Wallet in Telegram have?
Wallet in Telegram has more than 150 million registered users, according to company statements. Telegram itself has more than 1 billion users.
What platforms besides Telegram offer SK Hynix tokenized shares?
SK Hynix tokenized shares are also available on Solana through Backpack and Ondo Finance. Backpack launched 24/7 stock trading for international investors on Friday, initially offering tokenized versions of SpaceX, Micron, and SanDisk.
