Telegram Adds Tokenized SK Hynix ADRs After $26.5B U.S. Listing

Wallet in Telegram has added tokenized shares of SK Hynix to its xStocks feature following the chipmaker’s $26.5 billion U.S. listing. The American Depositary Receipts began trading on the Nasdaq under the ticker SKHYV on Friday; demand for the offering was roughly seven times available shares and the ADR price rose more than 13% in early trading.

The integration lets users buy, hold and trade digital representations of the newly listed ADR inside Telegram’s native crypto wallet. xStocks issues tokenized equity products that mirror ownership in traditional securities and routes trading through the app’s wallet interface.

Wallet in Telegram is embedded in the messaging app and is backed by The Open Platform. The wallet offers onchain features inside Telegram and is available to more than 150 million registered users, according to the company.

Other platforms have also made tokenized SK Hynix shares available. The Solana ecosystem supports these tokenized shares through services such as Backpack and Ondo Finance. Backpack announced the launch of round-the-clock trading for select U.S. equities for international investors, initially offering tokenized versions of SpaceX, Micron and SanDisk.

Halil Mirakhmed, chief strategy officer at Wallet in Telegram, described tokenized equities as “redefining how people access global capital markets,” and added that retail investors are seeking opportunities traditionally available to institutions.

Wallet in Telegram noted that retail investors have often had limited access to high-demand private offerings and IPOs. The company said earlier this year it delivered a 60% allocation to participating retail investors in the SpaceX offering when many retail channels received no shares. The wallet also rolled out onchain yield options for holders of Bitcoin, Ethereum and USDT.

Tokenized equities represent a digital claim tied to underlying shares or depositary receipts. Providers present them as a way to broaden access to global listings by enabling trading and custody inside blockchain-enabled wallets.