Telegram’s crypto wallet, created in partnership with The Open Platform (TOP), has rolled out exciting new features catering not only to messaging but also to cryptocurrency trading. The upgrades, which were launched in 2023 on the TON blockchain, include multi-asset trading and yield capabilities. Over 100 million users have signed up for the wallet, predominantly new entrants to the crypto world.
Initially focusing on Toncoin—used for tipping creators and paying for apps within Telegram—the wallet now also accommodates Bitcoin and USDT on the TON blockchain, along with other currencies like Notcoin. A notable update allows users to buy, sell, or hold cryptocurrency without needing on-chain deposits, streamlining the entry process for newcomers.
TOP is taking this further by introducing an earning component for Toncoin holders, offering an average yield of 4%, which may fluctuate based on validators’ rewards. Plans are in place to introduce yields for USDT later in the year and to launch loyalty programs aimed at benefiting Toncoin holders.
The wallet interface has undergone a redesign, showcasing a new navigation bar that facilitates easy transitions between Wallet, Trade, and Earn sections. “This update enhances Wallet’s functionality, aligning with consumer demands for an extensive market. We aim to maintain its simplicity and accessibility while functioning as a comprehensive crypto platform within Telegram,” stated TOP CEO Andrew Rogozov.
The rollout of these new features will occur in March and April, with some restrictions applicable in certain regions due to local regulations. This follows Telegram founder Pavel Durov’s announcement in December that the platform reached profitability, bolstered by cryptocurrency integrations for content and mini app payments. As of now, Telegram boasts over 950 million monthly active users.
In summary, the Telegram Wallet’s recent enhancements position it more as a versatile crypto platform while retaining user-friendly features, reflecting the growing trend of integrating cryptocurrency functionality into mainstream applications.
Fanpage: TechArena.au
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