Grindery, supported by Binance Labs, is focused on streamlining digital currency transactions within Telegram. The innovative wallet system facilitates quick cryptocurrency transfers by implementing account abstraction and generating significant liquidity for TON-based tokens and dApps on the messaging platform.

Account abstraction is a crypto technology enabling users to hold assets within a blockchain smart contract rather than an Externally Owned Account (EOA), offering enhanced security and programmable features for on-chain participants.

Grindery has garnered over 700,000 beta sign-ups since September and attracted more than 500,000 G1 token holders ahead of a formal listing.

The startup plans to simplify transactions for Telegram users by replacing blockchain addresses with human-readable names, fostering user trust and utility for tokens on Telegram, including those on Ethereum, Binance Smart Chain, and Polygon.

Grindery is aspiring to become a widely used account abstraction contract on various decentralized networks and aims to integrate with mainstream merchants and e-commerce platforms to introduce one-click payments and facilitate entry into web3 marketplaces.