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Telegram Announces Integration of Self-Custodial Crypto Wallet

Telegram TON Space Crypto Wallet
By Nicolo Finazzi
Nicolo Finazzi

2 Min

September 14, 2023
  • Telegram unveils TON Space, a self-custodial crypto wallet.
  • Wallet launch scheduled for November, excluding the US due to regulatory constraints.
  • Telegram aims to empower users with secure digital asset management.

Telegram, the popular chat application with 800 million monthly active users, has unveiled TON Space, a self-custodial cryptocurrency wallet. The announcement, made in collaboration with the TON Foundation, signifies a bold move by Telegram, considering the ongoing legal battles with the SEC faced by crypto projects in the United States.

Developed by the Open Network Foundation, TON Space is the result of a multi-year journey initiated by Telegram's founders. This journey began after Telegram encountered legal challenges with the SEC regarding a significant initial coin offering.

TON Space, scheduled for a global rollout in November, offers users a secure and user-friendly means of managing digital assets. Self-custodial wallets are gaining popularity due to their robust security features. Unlike centralized alternatives, these wallets give users full control of their funds and private keys, reducing reliance on third-party intermediaries.

Telegram Strategy and the Global Crypto Trend

Telegram's decision to introduce TON Space aligns with its vision of empowering individuals and promoting financial sovereignty. This move further solidifies Telegram's role as a thriving hub for crypto users, hosting numerous groups and channels dedicated to cryptocurrency discussions.

However, it's important to note that TON Space will not be accessible in the United States, where regulatory restrictions have been imposed on crypto. Nevertheless, this global introduction of a crypto wallet is in line with a period of rapid growth and adoption within the industry, with companies like Tesla and PayPal embracing cryptocurrencies, bringing them further into the mainstream.

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