Wallet in Telegram brings SK Hynix’s Nasdaq debut to its ecosystem through xStocks, offering eligible users tokenized exposure to one of the largest AI chip listings this year.
SK Hynix priced 177.9 million American depositary receipts at $149 each, raising $26.5 billion, the largest first-time stock sale in the U.S. by a foreign company. ADR opened at $170 on the Nasdaq market on Friday as demand for AI memory chips continued to increase investor interest.
The listing will allow U.S. investors to directly buy SK Hynix, one of the leading suppliers of high-bandwidth memory used in AI chips. The company began selling to meet global demand for AI-related stocks, and its Seoul-listed shares rose about 260% this year before the listing, according to Reuters.
Telegram’s wallet adds a tokenized layer to that list. xStocks has already introduced tokenized stocks to the TON ecosystem, allowing users to buy, hold, and transfer tokenized versions of stocks and ETFs through their Telegram-connected wallets.
SK Hynix’s product extends that model to major AI market events. Instead of going solely through traditional brokerages, eligible Wallet in Telegram users will receive tokenized SK Hynix exposure based on the final listing price.
The move also shows how tokenized stocks are moving from a byproduct of cryptocurrencies to a distribution channel for high-demand listings. xStocks says its products are published by Backed Assets and are not available in the United States or to U.S. persons. That means access is targeted to eligible users outside the United States, rather than the domestic market.
