Telegram launched its native cryptocurrency wallet in the US. It marks an important expansion of Telegram’s blockchain-based services.
TON Wallet was built using The Open Network blockchain and is now available for US users.
According to an announcement, this wallet is sponsored by the TON Foundation. It allows users the ability to receive, store and send digital assets within Telegram, without having to use any external browser extensions or downloads.
TON Wallet allows American users to interact with TON’s broader ecosystem. This includes a wide range of apps, from digital marketplaces to gaming, payments and decentralized financial (DeFi). This integration allows Telegram users to experience blockchain technology, without having to leave the interface.
TON Wallet enables direct crypto transfers
TON Wallet lets users transfer USDT (USDTToncoinTON) and other TON-based tokens, including non-fungible tokens.
According to the company, transactions work like sending regular messages, but users retain full control over their private keys thanks to the wallet’s design.
The platform also offers built-in tools for trading via Omniston, Ston.fi and third-party integrations, as well as token stakes through third-party interfaces. MoonPay, Apple Pay and Google Pay all offer 0% transaction fees when purchasing USDT using their respective credit card systems.
TON Wallet now offers a feature called off-ramp, which allows users to deposit crypto money directly into their bank accounts.
Egor DANILOV, the chief product officer of The Open Platform Telegram Wallet at Cointelegraph, said that the wallet serves as the gateway to TON Mini Apps. “The wallet is pivotal in connecting users with payments, games and onchain tools, all within a familiar environment they interact with daily.”
He also emphasized efforts to shield users against scams. “We’re soon introducing features such as whitelists, blacklists, transaction emulation and other advanced fraud detection tools to help users make safer choices before confirming transactions,” He said.
TON Wallet will play a bigger role in Telegram’s app economy, and help expand Mini Apps.
Related: Ethereum DeFi connects to TON and Telegram with Tac mainnet launch
US expansion has been a major focus for TON Wallet
Telegram users in Asia and Russia can now access the wallet via its main menu. The company claims that over 100 millions users will activate the wallet by 2024. Sensor Tower data Telegram is used by more than 87.5 million people in the US. This presents a huge growth opportunity to wallet.
The Open Platform, a Telegram-focused tech company, was the primary developer of TON Wallet. The Open Platform’s successful launch of its Web3 app for Telegram was announced on July 3. $28.5 million Series A funding roundIt has achieved a valuation of $1 billion. Ribbit Capital led the round, which also included Pantera Capital.
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Source: cointelegraph.com
