SK Hynix Raises $26.5 Billion via Nasdaq ADR Listing... Launches Telegram-Based Tokenized Stock Trading with xStocks

SK Hynix successfully listed on the US Nasdaq market on July 10, 2026, raising $26.5 billion (approximately 36 trillion KRW). This listing was recorded as the largest-ever initial stock sale by a foreign company entering the US stock market, solidifying its position as a key player in the global artificial intelligence (AI) supply chain.

Notably, these listed assets are provided to Telegram users in tokenized form through xStocks. SK Hynix's tokenized shares, issued based on the Solana network, will be tradable through Backpack, xStocks, and Ondo Finance, dramatically increasing accessibility for retail investors.

SK Hynix chose the American Depositary Receipt (ADR) method for this Nasdaq listing. According to the amended F-1 registration statement filed with the US Securities and Exchange Commission (SEC) on July 1, 2026, trading began under the ticker symbol 'SKHY', with a structure where 10 ADRs represent 1 ordinary share.

SK Hynix raised $26.5 billion through this ADR offering, overcoming volatility to achieve the largest US debut by a foreign company.

This listing aims to strengthen competitiveness in the global semiconductor market beyond simple fundraising. The raised funds are expected to be invested in large-scale facility investments, such as the creation of a semiconductor cluster in Yongin, South Korea, and the construction of a chip manufacturing plant in Indiana, USA. This is interpreted as a strategic move to respond to the explosive demand for High Bandwidth Memory (HBM).

Expansion of Retail Finance through Tokenization Technology

xStocks, supported by Kraken, connects institutional-grade assets like SK Hynix to Telegram's 1 billion users. xStocks aims to bring a significant portion of traditional capital markets on-chain and has established a seamless minting and redemption system between fiat currency and on-chain rails.

• Listing Method: Nasdaq listing in the form of American Depositary Receipts (ADR)
• Trading Ticker: SKHY (Trading begins July 10, 2026)
• Tokenization Network: Based on the Solana blockchain
• Key Partners: xStocks, Talos, Ondo Finance

Market experts believe this listing will serve as an opportunity to re-evaluate SK Hynix's value among competitors such as Samsung Electronics and Micron. In particular, its leading position in the AI semiconductor market is analyzed as a major factor that drew high interest from investors. On the first day of listing, SK Hynix confirmed solid demand despite market volatility.

However, rapid market volatility and the cyclical nature of the semiconductor industry remain risk factors. SK Hynix is evaluated to have successfully secured liquidity by listing approximately 2-3% of its total shares in ADR form, while simultaneously succeeding in large-scale capital expansion to respond to increased demand following the global AI boom.

The collaboration between xStocks and Talos provides institutional investors with confidence in tokenized stock trading. As an institutional digital asset trading platform, Talos supports xStocks' tokenized stocks, further blurring the boundaries between traditional finance (TradFi) and digital assets. This could serve as a precedent for more traditional companies to choose on-chain assetization in the future.

Key points to watch in the future include the price trend of SKHY ADRs on Nasdaq and the actual trading volume of Telegram-based tokenized stocks. Whether the construction schedules for new plants in Korea and the U.S., which will begin in earnest from the second half of 2026, proceed as planned is also a key indicator that investors should pay attention to. SK Hynix plans to further solidify its dominance in the global AI chip market through this listing.

In conclusion, SK Hynix's U.S. listing is an example of combining technological and financial innovation. A structure has been formed where the traditional capital market of Nasdaq and the digital asset market through Telegram and Solana simultaneously support SK Hynix's growth. This is expected to present a new milestone for the fundraising methods of global companies in the future.