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 Popular messaging platform Telegram has revealed plans to launch a self-custodial cryptocurrency wallet in collaboration with The Open Network (TON). This announcement was made during the Token2049 event in Singapore on September 13, 2023.&nbsp; 
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The new crypto wallet is named TON Space and will cater to Telegram’s extensive user base of over 800 million monthly active users. 
Currently, TON Space is accessible to users via the Telegram Wallet bot and native settings within the Telegram app. The global rollout of the wallet is scheduled to begin in November 2023 for all users except those in the United States and a few other countries. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4e3.png" alt="📣" class="wp-smiley" style="height: 1em; max-height: 1em;"> Major news from <a href="https://twitter.com/hashtag/TOKEN2049?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TOKEN2049</a> – <a href="https://twitter.com/hashtag/TON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TON</a>-based <a href="https://twitter.com/wallet_tg?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@wallet_tg</a> goes live for <a href="https://twitter.com/telegram?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@telegram</a>‘s 800 million users, in new integration. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"> Let’s celebrate the largest <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Web3</a> onboarding event ever, together! Comment <a href="https://twitter.com/hashtag/TONxTelegram?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TONxTelegram</a>, retweet, and scan to get <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TON</a> in 2 taps! <a href="https://t.co/NyeMz71vbC" rel="noopener noreferrer nofollow">pic.twitter.com/NyeMz71vbC</a> 
 — TON <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f48e.png" alt="💎" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@ton_blockchain) <a href="https://twitter.com/ton_blockchain/status/1701856616792866959?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 13, 2023</a> 
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This development marks a significant milestone in Telegram’s<a style="color: #0000ff;" href="https://defi-planet.com/2022/12/telegram-founder-aims-to-create-new-decentralized-tools/" rel="noopener noreferrer nofollow"> ambitious Web3 ecosystem plans</a>. Telegram had originally played an active role in the development of TON but was forced to abandon the project in 2020 due to a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The SEC had <a href="https://www.sec.gov/files/litigation/complaints/2019/comp-pr2019-212.pdf" rel="noopener noreferrer nofollow">alleged </a>that Telegram conducted an unregistered securities offering that raised $1.7 billion by selling “Gram” tokens. 
Telegram reached a settlement with the securities regulator, and as part of the settlement, it <a href="https://www.sec.gov/news/press-release/2020-146" rel="noopener noreferrer nofollow">promised to refund any unused investor funds and paid an $18.5 million fine</a>. Since then, TON has continued as an open-source, community-driven initiative. 
The partnership with Telegram is expected to promote TON’s adoption and boost its standing in the crypto market. Currently, Toncoin, the native cryptocurrency of TON, ranks as the 11th largest cryptocurrency by market capitalization, totaling approximately $6 billion, according to<a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow"> data from CoinMarketCap</a>. The mere announcement of the partnership led to a 7% increase in the toncoin’s value within just one hour. 
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 <img decoding="async" loading="lazy" class="size-full wp-image-11019" src="https://defi-planet.com/wp-content/uploads/2023/09/CHART.png" alt="" width="512" height="374" srcset="https://defi-planet.com/wp-content/uploads/2023/09/CHART.png 512w, https://defi-planet.com/wp-content/uploads/2023/09/CHART-300x219.png 300w" sizes="(max-width: 512px) 100vw, 512px"> 
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 Source: <a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow">CoinmarketCap</a> 
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Meanwhile, the TON Foundation <a style="color: #0000ff;" href="https://finance.yahoo.com/news/ton-foundation-founded-switzerland-non-124119736.html" rel="noopener noreferrer nofollow">announced</a> on September 6 that it has transitioned from its current administrative structure to a nonprofit organization now registered in Switzerland. The Foundation previously ran a community-driven initiative.&nbsp; 
Steve Yun, TON Foundation’s President, stated that the transition “marks a new chapter” for the community and will continue to serve them. According to Yun, “At the service of our community, TON Foundation will pursue strong governance and transparency under the guidance of Swiss regulations.” 
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The post <a rel="noopener noreferrer nofollow" href="https://defi-planet.com/2023/09/telegram-partners-with-ton-to-introduce-self-custodial-crypto-wallet-for-its-users/">Telegram Partners With TON to Introduce Self-Custodial Crypto Wallet for Its Users</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://defi-planet.com">DeFi Planet</a>.

Telegram Partners With TON to Introduce Self-Custodial Crypto Wallet for Its Users

DeFi Planet

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