
Telegram Introduces Crypto asset to U.S. Users through TON Wallet
Telegram has introduced its TON Crypto wallet for users located in the United States. This wallet, created by The Open Network, is accessible to all 87 million users in the U.S. and is integrated directly within the Telegram app. This represents the first occasion where U.S. users can utilize a completely self-custodial wallet via a mainstream messaging application.
In-App Crypto wallet Access
Users now have the ability to send and receive cryptocurrencies through their conversations on Telegram. All transactions occur within the same interface that people are already familiar with for chatting with friends and participating in communities. There are no additional applications to download or complicated sign-up procedures to manage. The crypto wallet is an integral aspect of the chat experience, designed to be fast and easily accessible without interrupting the usual use of Telegram.
Launch in the U.S. Post Legal Review
Telegram delayed the wallet release in the U.S. due to previous legal concerns. The launch team indicated that recent regulatory changes provided them with greater confidence to proceed. With an established user base in the U.S. available, the team recognized a chance to introduce the digital wallet to a new audience under clearer regulations.
User-Friendly Recovery System
Rather than requiring users to note down or remember lengthy seed phrases, the crypto wallet employs a dual-part recovery system. One segment is linked to the user’s Telegram account, while the other is associated with their email. This method reduces the likelihood of users encountering lockout issues and helps them navigate one of the common challenges in crypto.
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Features Extend Beyond Basic Transfers
The crypto wallet also offers features for token swapping, earning yield, and purchasing cryptocurrencies with a debit card. Furthermore, it integrates with Telegram’s Mini App system, allowing users to access blockchain-based services without exiting the app. These functionalities are crafted to embed crypto seamlessly into the chat experience rather than presenting it as a distinct product.
Toncoin Reacts to the Launch
In the wake of the rollout, Toncoin, the native crypto token of the platform, experienced a surge in trading activity. Its price increased shortly after the update, with upward momentum continuing into the subsequent week. Analysts attributed this to heightened user engagement and a resurgence of interest in the TON ecosystem.
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Expansion Builds Upon Previous Global Releases
Telegram initially rolled out the digital wallet outside the U.S. in 2023. By 2024, more than 100 million users globally had activated the feature. The U.S. launch marks the latest milestone in this growth. Telegram has been progressively incorporating financial tools into its protocol, blending social messaging with digital payments and distributed database capabilities.
Implications for Crypto Usage
Introducing a self-custodial crypto wallet within a familiar application minimizes the effort involved in utilizing cryptocurrency. Users do not need to familiarize themselves with new tools or manage several accounts to explore basic functions such as sending stablecoins or engaging with a locking tokens service. Telegram’s strategy may facilitate more casual crypto utilization by catering to users in their existing environment.
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Key Insights
- Telegram has rolled out its integrated TON digital wallet for all U.S. users, reaching 87 million individuals with direct access within the app.
- The digital wallet is fully embedded in chats, enabling users to conveniently send, receive, and manage cryptocurrency without switching between apps.
- A new dual-key recovery mechanism alleviates the requirement for seed phrases, facilitating the onboarding of more casual users with reduced obstacles.
- Users are able to buy, swap, and stake tokens directly from the crypto wallet, in addition to accessing Web3 services through Telegram’s Mini App ecosystem.
- Toncoin experienced a price increase after the U.S. launch, indicating a favorable market response and rising engagement within the ecosystem.
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