SK Hynix tokenized shares became available to Telegram users on Friday via xStocks following the South Korean chipmaker's $26.5 billion U.S. listing, according to Wallet in Telegram. The company raised $26.5 billion through an American Depositary Receipts (ADR) sale that was seven times oversubscribed, with demand exceeding available shares by a factor of seven, Reuters reported. Wallet in Telegram Chief Strategy Officer Halil Mirakhmed stated that tokenized equities are redefining retail investor access to global capital markets, addressing historical limitations where institutional investors received priority in oversubscribed offerings.
SK Hynix ADRs Gain 13% on Nasdaq Debut
SK Hynix's ADRs, trading under ticker symbol SKHYV, went live on Nasdaq on Friday and were up over 13% as of 2:37 p.m. ET, according to Yahoo Finance. The ADR structure allowed the South Korean chipmaker to list shares in the U.S. market, with the offering attracting institutional and retail demand that surpassed supply.
Solana Offers SK Hynix Tokenized Shares via Backpack and Ondo Finance
Solana announced that SK Hynix shares on SOL can be acquired through Backpack and Ondo Finance, according to a Friday statement. Telegram, with over 1 billion users, is not the only platform providing tokenized access to the chipmaker's equity following the Nasdaq listing.
Backpack Launches 24/7 Trading for SpaceX, Micron, SanDisk Equities
Backpack launched 24/7 stock trading of select U.S. equities for international investors on Friday, according to a company statement. The platform initially allows international investors to buy tokenized versions of SpaceX, Micron, and SanDisk, expanding access beyond traditional market hours.
Wallet in Telegram Platform Details and Retail Allocation History
Wallet in Telegram, backed by The Open Platform and natively embedded into Telegram's interface, has over 150 million registered users, according to a Friday statement. The platform delivered a 60% allocation to participating retail investors in the SpaceX offering earlier this year, at a time when many retail channels allocated no shares, the statement said. Wallet in Telegram officially offers access to tokenized SK Hynix shares through xStocks, with the platform stating that retail investors have historically received limited access to high-demand private offerings and IPOs.
FAQ
What did SK Hynix do on Friday?
SK Hynix raised $26.5 billion through an American Depositary Receipts sale on Nasdaq on Friday. The ADRs, trading under ticker symbol SKHYV, were seven times oversubscribed and gained over 13% as of 2:37 p.m. ET on the listing day.
How can Telegram users access SK Hynix tokenized shares?
Telegram users can access tokenized SK Hynix shares through Wallet in Telegram via xStocks, according to a Friday statement. Solana also offers SK Hynix tokenized shares through Backpack and Ondo Finance.
What is Wallet in Telegram's retail allocation record?
Wallet in Telegram delivered a 60% allocation to participating retail investors in the SpaceX offering earlier this year, according to the platform's Friday statement. The platform has over 150 million registered users and is natively embedded into Telegram's interface.
