Telegram Messenger Launches TON Space Crypto Wallet
Telegram Messenger has introduced TON Space, a self-custodial crypto wallet based on The Open Network (TON), for its massive user base of over 800 million monthly active users. The wallet can be accessed directly through Telegram’s settings. Existing users of the Telegram Wallet bot will also be able to access TON Space, which previously enabled buy/sell functions for supported cryptocurrencies within the messaging app.
Global Launch Scheduled for November
TON Space is set to be globally launched next month, with the exception of users in the U.S. and a few specified jurisdictions.
“Telegram’s mission has always been to enable freedom of speech, but speech is so much more in this digital age. We believe users have the right to own their identities and assets. With TON Space, users now have the technology to make that convenient,” shares John Hyman, Chief Investment Officer at Telegram.
A Step Towards TON’s Original Vision
This partnership between Telegram and the TON Foundation brings TON closer to its initial vision. Telegram had to abandon the TON project in 2020 due to a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The SEC claimed that Telegram’s $1.7 billion initial coin offering for its token named Grams was an unregistered security.
Post-settlement, TON became an open-source community project. Despite Telegram’s withdrawal from TON, its user base has grown from half a billion to 800 million active daily users.
Enhanced Infrastructure and Access to Promotional Platform
The TON Space wallet now serves as an enhanced infrastructure layer for the TON ecosystem. Additionally, Telegram will provide TON projects and partners with preferential access to its global promotional platform, Telegram Ads.
Hot Take: Telegram Integrates TON Space Crypto Wallet for 800 Million Users
Telegram Messenger has launched TON Space, a self-custodial crypto wallet, to its massive user base of over 800 million monthly active users. This move brings TON closer to its original vision after abandoning the project in 2020 due to a lawsuit from the SEC. The wallet can be accessed directly through Telegram’s settings, and existing users of the Telegram Wallet bot can also access TON Space. The global launch is scheduled for November, excluding users in the U.S. and certain jurisdictions. With this integration, Telegram aims to empower users to own their identities and assets conveniently.
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