Telegram has announced the launch of its crypto wallet, enabling U.S. users to manage tokens on the TON blockchain directly within the app.
Features of the New Crypto Wallet
The crypto wallet, built on the TON blockchain, allows users to send, receive, and store tokens like Toncoin and USDT without the need for third-party apps or extensions. Through its self-custodial design, users maintain control over their private keys. Key features include in-chat token transfers, trading tools, and fee-free USDT purchases.
Fraud Protection and Enhanced Capabilities
Telegram has stated that the wallet will receive updates to add fraud protection features. Upcoming enhancements include options for creating whitelists and blacklists, as well as transaction previews, aimed at increasing overall security for users.
Growing Popularity and Telegram's Plans
The wallet is already actively used in Asia and parts of Europe, with over 100 million activations reported. In the U.S., the user base exceeds 87 million, prompting the company to see significant growth potential. The wallet development followed a $28.5 million funding round, raising the valuation to $1 billion. Telegram aims to establish the wallet as a central hub for its expanding ecosystem of Web3 applications.
The launch of Telegram's crypto wallet marks a significant step towards integrating blockchain technology into everyday use, potentially transforming how users interact with digital assets.
