Cryptocurrency Trading Bot Wallet Debuts on Telegram in Latin America and Africa
If you’re a crypto enthusiast in Latin America or Africa, you’ll be excited to learn that the cryptocurrency trading bot Wallet is now available on the popular messaging platform Telegram. The global rollout of Wallet was announced by the Dubai-headquartered investment platform, the Open Platform (TOP), on November 10.
Users in Colombia, South Africa, and Kenya can access the Wallet crypto bot directly from the Telegram settings menu. Previously, users had to search for the bot by clicking “@Wallet” on Telegram, but now it’s conveniently located in the menu for easy access.
In addition to the default custodial wallet, Wallet offers a self-custody crypto solution called TON Space. This sub-wallet allows users to perform decentralized swaps within TON Space and transfer nonfungible tokens (NFTs).
Targeting Developing Markets
TOP has chosen to launch Wallet in developing markets to provide users with more financial tools and capitalize on its significant user base in these regions. According to TOP, these regions have shown organic demand for crypto assets due to a lack of accessible financial tools.
Telegram has a significant user base in these regions, with 4.49 million users in Colombia and approximately 50% of internet users in Kenya and South Africa using Telegram as of Q3 2022.
Expansion Plans and Strategic Enhancements
Following its launch in Latin America and Africa, Wallet is expected to expand to Saudi Arabia, Nigeria, and Turkey in Q1 2024. The global rollout on Telegram is anticipated to be completed by the end of Q2 2024.
The CEO of TOP emphasized their dedication to simplifying the crypto experience for mainstream audiences while maintaining robust security features. Despite being added to the Telegram settings menu, both Telegram and Wallet have stressed that they are operating independently from each other.
Hot Take: Promising Expansion into Developing Markets
The expansion of Wallet into developing markets such as Latin America and Africa through its integration with Telegram is a promising move. This strategic decision by TOP aims to provide easier access to financial tools for users in regions with growing interest in crypto assets. By leveraging the significant user base of Telegram in these areas, this initiative is set to accelerate mass market adoption of TON-based blockchain technology.
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