Telegram integrates TON crypto wallet, TON price jumps 13%

Telegram, the popular messaging platform with over 800 million monthly active users, has integrated the self-custodial crypto wallet, TON Space. This game-changing development, announced by The Open Network Foundation, represents a pivotal moment for both Telegram and the cryptocurrency ecosystem.

TON Space: A New Era in Digital Asset Ownership

The wallet, aptly named TON Space, will be seamlessly accessible via the Telegram settings, making it incredibly convenient for users to manage their digital assets. TON Space is built upon The Open Network (TON), a decentralized network developed by the TON Foundation, which is now one step closer to realizing its original vision.

Telegram, which has long championed the cause of freedom of speech in the digital age, is extending its commitment to empowering users by enabling them to own their digital identities and assets securely. John Hyman, Telegram’s Chief Investment Officer, stated, “With TON Space, users now have the technology to make that convenient.”

TON’s Meteoric Rise

The integration of TON Space comes at a time when the TON ecosystem is experiencing significant growth. TON trading volume has surged by an impressive 77% within the past 24 hours, reaching a staggering $49 million. At the time of writing, TON is trading at $1.92, reflecting a remarkable 13% increase in just 24 hours. These statistics underscore the growing interest and enthusiasm surrounding TON and its associated products.

TON/USDT 4 hours-chart on OKX | Source: TradingView

Access for Telegram Wallet Users and Global Expansion

The rollout of TON Space will occur in two phases. Starting immediately, all Telegram Wallet users can access TON Space. The Telegram Wallet itself is a bot that empowers users to buy and sell cryptocurrencies, including Bitcoin, within the Telegram platform. However, the next phase is the most ambitious one. In November, TON Space will become accessible to all global Telegram users, with the notable exception of the United States and some other countries.

A Synergetic Partnership

Telegram’s partnership with the TON Foundation represents a strategic alliance that goes beyond the integration of the TON Space wallet. As part of the launch, Telegram will prioritize access for TON projects and partners to its global advertising platform, Telegram Ads. This move is set to create an expansive and dynamic ecosystem where TON-based projects can reach a vast audience and accelerate their growth.

John Hyman emphasized the groundbreaking nature of this partnership, stating, “With this partnership, we are putting digital ownership rights in the hands of our entire user base. While also giving TON projects the tools to reach our audience in the largest Web3/Web2 partnership there has ever been.”

In conclusion, Telegram’s integration of TON Space is a transformative step that bridges the world of digital communication with the burgeoning cryptocurrency landscape. This move not only empowers Telegram’s massive user base but also paves the way for further innovation and adoption of blockchain technology.

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