Telegram has begun rolling out native cryptocurrency wallets to US users, marking a significant expansion of its blockchain-based services.
Built on top of the Open Network (Ton) blockchain, Ton Wallet is the first self-supporting crypto wallet integrated into major social platforms available to US users, according to a news release on Tuesday.
Supported by the Ton Foundation, the wallet allows users to send, receive and store digital assets directly within the Telegram app, eliminating the need for external downloads or browser extensions, according to the announcement.
Access to Ton Wallets allows American users to interact with the broader Ton ecosystem, including applications ranging from games and payments to decentralized finance (DEFI) and the digital market. The integration allows users to explore blockchain technology without leaving the telegram interface, the company said.
Ton wallets allow direct cryptographic transfers
The TON wallet allows users to transfer other ton-based tokens, including USDT (USDT), Toncoin (Ton), and other ton-based tokens.
The transaction works in the same way as sending a regular message, with users maintaining full control over their private keys through the wallet's independent design, the company said.
Other features include a built-in trading tool via Omniston and Ston.fi, 0% fee for USDT purchases made via credit cards using Token Shird Pay, Google Pay, or MoonPay.
Ton Wallet is the first time to offer an off-lamp feature that allows users to withdraw Crypto funds directly to their bank cards.
Egor Danilov, chief product officer of Open Platform and Telegram Wallet, told Cointelegraph that the wallet is the main gateway for Ton's mini apps. “This wallet is crucial in connecting users with payments, games and on-chain tools. Everything is within the environment where you interact with each other every day.”
He also highlighted efforts to protect users from fraud and phishing. “We will quickly showcase features such as whitelisting, blacklisting, transaction emulation and other advanced fraud detection tools, helping users make more secure choices before reviewing transactions,” he said.
Beyond utility as a personal wallet, Ton Wallet is expected to play a bigger role in Telegram's in-app economy and support the expansion of mini apps.
Related: Ethereum Defi connects to Ton and Telegram on launching the TAC mainnet
The US has always been a key target for expanding tonwallets
Outside the US and Europe, Telegram has already added wallets to its main menu, making them available to Asian and Russian users. According to the company, more than 100 million users worldwide in 2024, the wallet was revitalized. Sensor Tower data shows Telegram has over 87 million users in the US, providing a significant growth opportunity for wallets.
Ton Wallet was developed by Open Platform, The Tech Company, which focuses primarily on creating Web3 apps for The Telegram. On July 3, the open platform announced a successful $208.5 million Series A funding round, achieving a $1 billion valuation. The round was led by fintex specialist Libbit Capital and was attended by renowned crypto venture capital firm Pantera Capital.
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