Wallet in Telegram is offering eligible users tokenized exposure tied to SK Hynix’s record $26.5 billion U.S. share sale, as the ADRs climbed more than 13% on Friday.
SK Hynix’s $26.5 billion U.S. share sale is being distributed in tokenized form through xStocks inside Wallet in Telegram, giving eligible users exposure to one of the largest AI chip listings of the year. SK Hynix priced 177.9 million American depositary receipts at $149 each, and the ADRs, trading under ticker SKHYV, rose more than 13% on Friday after opening at $170 on Nasdaq. The company is a key supplier of high bandwidth memory used in AI chips, and Reuters reported its Seoul-listed shares were up about 260% this year before the debut. Telegram Wallet Chief Strategy Officer Halil Mirakhmed said tokenized stocks are redefining retail access to global capital markets. xStocks, whose products are issued by Backed Assets, said the tokenized offering is not available in the United States or to U.S. persons, pointing instead to distribution for eligible users outside the U.S. through Telegram-connected wallets.