Telegram is rolling out a crypto wallet in the US. This self-custodial wallet, built on the TON blockchain, doesn’t require downloads or browser extensions.
The Open Network or TON (previously Telegram Open Network) is a decentralized blockchain, originally developed by one of the Telegram founders, Nikolai Durov, the elder brother of the famous Pavel Durov.
Wallet in Telegram is backed by The Open Platform (TOP), a technology company developing web3 innovations.
Andrew Rogozov, CEO of TOP and Wallet in Telegram, emphasized that users won’t need to download anything to start using the wallet as it is not an add-on but a part of the platform’s infrastructure.
“With Wallet in Telegram, sending digital assets feels as simple as sending a message, no friction, no extra steps. At the same time, users stay in full control of their keys and funds. This isn’t just a wallet, it’s a gateway to a universe of Telegram apps powered by TON, right inside the messenger people use every day,” Rogozov is quoted in the press release.
The wallet is self-custodial, meaning that a user has 100% control over their assets, including private keys.
Last year, Telegram had approximately one billion users worldwide. In the US, the app remained relatively small, with around 10 million active monthly users. However, the US was among the leading markets of Telegram by app downloads in 2024. Thirty-eight million US citizens downloaded the app last year alone.
Wallet in Telegram gained over 100 million users last year, and the aim is to make it available to all of its billion users.
What can you do with the Wallet in Telegram?
Users can get started by tapping “Wallet” in Telegram settings. Wth the Wallet enabled, users will be able to:
- Send cryptocurrency to friends via direct messages across the US and abroad
- Purchase cryptocurrency without any fee via Apple Pay, Google Pay, and MoonPay bank cards
- Cash out crypto to MoonPay bank cards
- Earn annual percentage yield (APY) on digital assets
- Engage with stablecoins
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