Telegram to Launch Cryptocurrency Wallet for 800 Million Users

In a groundbreaking move set to reshape the digital landscape, Telegram is gearing up to integrate a cryptocurrency wallet based on The Open Network (TON) for its vast user base of over 800 million active users. This new wallet, aptly named TON Space, is slated for a global launch through Telegram settings, set to roll out in November 2023.

This announcement follows the recent availability of TON Space for Telegram Wallet users, as reported by The Block. The Telegram Wallet chatbot has already enabled users to conduct cryptocurrency transactions using Bitcoin and Toncoin directly within the messenger platform. With the forthcoming expansion in November, this capability will extend to nearly all Telegram users, with a few exceptions, notably the United States and select markets where regulatory agreements have yet to be reached.

The introduction of TON Space as an integrated cryptocurrency wallet marks a pivotal moment in the development of the TON ecosystem. Alongside this launch, Telegram is also bestowing priority access to its global advertising platform, Telegram Ads, upon TON projects and partners.

Empowering Users with Digital Ownership

Telegram has long been committed to championing freedom of speech and user empowerment. With TON Space, the platform is taking this mission a step further by granting users greater control over their digital identity and assets. John Hyman, Telegram’s chief investment officer, expressed this sentiment, highlighting the importance of this partnership in making digital ownership accessible to the entire user base.

Hyman noted that the collaboration opens the door to an expansive digital ecosystem. It offers users the technology to seamlessly manage their digital assets while providing TON projects with the tools required to engage audiences, forming what he described as “the largest Web3/Web2 partnership that has ever existed.”

The integration of TON Space into Telegram’s already robust ecosystem will undoubtedly have far-reaching implications, further blurring the lines between traditional and digital realms. As the November launch date approaches, all eyes will be on how this move will transform the way users interact with cryptocurrencies and digital assets on one of the world’s most popular messaging platforms.