HOW A REAL WORLD STOCK BECOMES A TOKEN YOU CAN HOLD IN A TON WALLET
Buying a share of a public company traditionally means opening a brokerage account, passing identity verification, and trusting that broker to hold the position on your behalf. xStocks follow a different path onto TON.
An xStock is backed by the actual underlying share, held by a regulated custodian. Ownership of that share is represented on chain as a TON jetton, which a wallet holder can transfer, trade, or hold directly, without the broker acting as an intermediary for each action. The link between the on chain token and the real reserve behind it is verified independently through Chainlink Proof of Reserve, an on chain check rather than a claim in a marketing document.
This changes custody more than it changes the underlying asset. The stock exposure is the same. What changes is who holds the position: a self custody wallet instead of a brokerage account, with the on chain record available for anyone to check rather than a statement issued once a month.
For anyone building a diversified DeFi position, this is also why xStocks get discussed alongside standard crypto holdings rather than as a separate category entirely.
See available xStocks and how self custody works: https://blog.ston.fi/self-custody-for-xstocks/
Buying a share of a public company traditionally means opening a brokerage account, passing identity verification, and trusting that broker to hold the position on your behalf. xStocks follow a different path onto TON.
An xStock is backed by the actual underlying share, held by a regulated custodian. Ownership of that share is represented on chain as a TON jetton, which a wallet holder can transfer, trade, or hold directly, without the broker acting as an intermediary for each action. The link between the on chain token and the real reserve behind it is verified independently through Chainlink Proof of Reserve, an on chain check rather than a claim in a marketing document.
This changes custody more than it changes the underlying asset. The stock exposure is the same. What changes is who holds the position: a self custody wallet instead of a brokerage account, with the on chain record available for anyone to check rather than a statement issued once a month.
For anyone building a diversified DeFi position, this is also why xStocks get discussed alongside standard crypto holdings rather than as a separate category entirely.
See available xStocks and how self custody works: https://blog.ston.fi/self-custody-for-xstocks/