Telegram Wallet Offers Tokenized SK Hynix Shares Through xStocks

Telegram Wallet lists tokenized SK Hynix shares

Wallet in Telegram, the crypto wallet built into the messaging app, now offers access to tokenized shares of SK Hynix through xStocks, according to a statement dated July 10. The tokens track the South Korean chipmaker's newly listed US stock and let holders gain exposure without a traditional brokerage account. Telegram counts more than 1 billion users, and Wallet in Telegram has over 150 million registered accounts. Solana said the same shares can also be traded on its network through Backpack and Ondo Finance.

SK Hynix raised $26.5 billion in US debut

SK Hynix raised $26.5 billion through a sale of American Depositary Receipts (ADRs), its first share offering in the United States. The company sold 177.9 million ADRs at $149 each, with every ten ADRs representing one common share. Demand for the stock ran seven times higher than the number of shares available. The ADRs began trading on the Nasdaq under the ticker SKHYV.

SK Hynix ADRs rose more than 13%

The ADRs went live on Friday, July 10, and traded up more than 13% as of 2:37 p.m. Eastern Time, measured against the $149 offer price. xStocks tokens track that stock and trade 24 hours a day, seven days a week. Separately on Friday, Backpack launched round-the-clock trading of select US equities for international investors. Its first tokenized listings covered SpaceX, Micron, and SanDisk shares.

Tokenization widens retail access to IPOs

Wallet in Telegram said retail investors have historically received limited access to oversubscribed initial public offerings (IPOs), with institutions prioritized when allocations exceed supply. Earlier this year, the platform delivered a 60% allocation to retail participants in the SpaceX offering, it said. The SK Hynix tokens became available the same day its ADRs began trading.

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