Wallet in Telegram is bringing SK Hynix’s Nasdaq debut into its ecosystem through xStocks, giving eligible users tokenized exposure to one of the largest AI chip listings of the year.
SK Hynix price-slides-3/” title=”XRP Ledger Activity Hits a Rare Low as XRP Price Slides 3%”>price-rises-as-defi-fees-drop-67-1/” title=”Cardano Price Rises as DeFi Fees Drop 67.1%”>priced 177.9 million American depositary receipts at $149 each, raising $26.5 billion in the biggest ever first share sale in the U.S. by a foreign company. The ADRs opened Friday at $170 on Nasdaq as demand for AI memory chips continued to drive investor interest.
The listing gives U.S. investors a direct way to buy into SK Hynix, one of the main suppliers of high bandwidth memory used in AI chips. Reuters reported that the company launched the sale to ride global demand for AI related stocks, with its Seoul listed shares up about 260% this year before the debut.
Wallet in Telegram adds a tokenized layer to that listing. xStocks has already brought tokenized equities to the TON ecosystem, allowing users to buy, hold and transfer tokenized versions of stocks and ETFs through wallets connected to Telegram.
The SK Hynix offering extends that model to a major AI market event. Instead of routing only through traditional brokerages, eligible Wallet in Telegram users can receive tokenized SK Hynix exposure based on the final listing price.
The move also shows how tokenized equities are shifting from a crypto side product into a distribution channel for high demand listings. xStocks says its products are issued by Backed Assets and are not available in the United States or to U.S. persons, meaning the access is aimed at eligible users outside the U.S. rather than the domestic market.
