Telegram Integrates Self-Custodial Crypto Wallet for 800 Million Users; TON Surges 14%
Date: 2023-09-13 Author: Dima Zakharov Categories: BUSINESS
Unlocking Digital Ownership on Telegram:
TON Space, the newly introduced wallet, has now made it possible for Telegram users to have complete control over their digital assets. This innovative feature can be accessed through the Telegram Wallet's menu button, starting today. For users outside the United States, this functionality will be made available globally by November, ensuring accessibility for a vast international audience.
Telegram's Stature in Messaging:
Telegram, which currently ranks as the fourth most popular messaging application worldwide, stands alongside giants like WeChat, WhatsApp, and Facebook Messenger. Notably, it has become one of the most widely used web2 applications within the cryptocurrency industry. With this move towards blockchain integration, Telegram is poised to further strengthen its position within the digital landscape.
Empowering TON Foundation and the Crypto Community:
The TON Foundation has revealed that Telegram will extend priority access to the Foundation, its projects, and partners for running cryptocurrency-related advertisements on the platform through Telegram Ads. This initiative aligns with Telegram's strategy to foster and promote a TON-based Web3 ecosystem.
Telegram's Vision for Digital Ownership:
John Hyman, Telegram's Chief Investment Officer, emphasized the platform's mission to enable freedom of speech in the digital age. He highlighted that users should have the right to own their identities and assets. TON Space now provides users with the technology to conveniently exercise this right. Furthermore, this partnership aims to democratize digital ownership rights across Telegram's vast user base, while also providing TON projects with an unprecedented opportunity to engage with this audience.
TON's Remarkable Price Surge:
In response to this significant development, TON's price witnessed a remarkable surge of nearly 14%, reaching $1.93082 as of the latest data available. Notably, TON's value has soared by over 300% during the second half of the year, demonstrating resilience in the face of the prevailing bearish market sentiment.
Reviving TON:
It's worth mentioning that Telegram had previously suspended work on TON following legal action by the U.S. Securities and Exchange Commission (SEC) for raising $1.7 billion through an initial coin offering. However, the project experienced a revival in 2020, thanks to the support and involvement of the community.
