Telegram's independent Crypto Wallet was developed by a third-party company called The Open Platform (TOP) and introduced new features for people who don't use Telegram as a messaging app. Updates include multi-asset trading and surrender capabilities.
Based on the TON blockchain, Top launched its wallet in 2023. The company reported that over 100 million users have signed up for accounts with Telegram wallets. Furthermore, we noted that most of these users are new to the crypto ecosystem.
Wallet products are primarily focused on Toncoin cryptocurrency, which can be used on the Telegram platform to lean creators and pay for mini-games and apps. It also supports Bitcoin and USDT (on blockchain). Since its first launch, the wallet has also gained support for other currencies, such as Notcoin.
Image credits: Top
Following today's update, Top says users can buy, sell or retain crypto without on-chain sediment. This makes it easy for new users to enter Crypto holdings and trading.
The company is also introducing a revenue component in its wallets to hold a certain amount of toncoins. You did not specify the rate of return or the amount of crypto needed to start your income. Later this year, TOP plans to launch a loyalty programme that will add USDT Holdings yields and benefit Toncoin holders.
Telegram Wallet has also undergone a transformation, with a new navigation bar at the bottom, with an easy way to switch between wallets, trades and acquisition sections.
Image credits: Top
“This update enhances the wallet's capabilities to meet consumer expectations for an open and wide range of markets. The current update wallet is now operating as a full-fledged cryptographic platform within Telegram while still as simple and accessible as ever. We also plan to implement a loyalty program specifically for Toncoin Holders to further increase the adoption of the Toncoin Ecosystem,” Top CEO Andrew Rogozov said in a statement.
New wallet updates will begin rolling out to users in March and April. The top said that some countries could be limited in some functions based on local regulations.
Last December, Telegram founder Pavel Durov said the company was profitable. The platform has over 950 million active users each month. Cryptocurrency is contributing to the company's ultimate contribution through integration of content and mini-app payments.