Telegram has finally rolled out its TON Wallet to users in the United States, marking a major expansion of blockchain functionality into one of its largest markets.
Driven by The Open Network (TON), the functionality allows American Telegram users to send, receive, and store cryptocurrencies and digital assets within the app. It is the first time a popular social platform has offered an in-app self-custodial crypto wallet to US users.
The TON Wallet launch provides seamless interaction with Telegram’s growing decentralized universe, including DeFi apps, NFT stores, gaming apps, and digital bazaars.
Contrary to other crypto wallets, which are standalone browser extensions or applications, TON Wallet is an integral part of the Telegram user interface and is designed to be used as easily as sending a message.
They can swap tokens such as USDT and Toncoin, stake assets, trade with in-house tools such as Omniston and Ston.fi, and get 0% fees on purchasing USDT with Apple Pay, Google Pay, or a credit card through MoonPay.
An off-ramp feature has also been added, enabling users to convert crypto holdings directly to fiat and withdraw to their bank cards.
Egor Danilov, chief product officer at The Open Platform and Telegram Wallet, said the wallet plays a central role in connecting users with Telegram’s on-chain tools and services. He stated that the app will roll out whitelists, blacklists, transaction simulation, and other anti-scam features aimed at protecting users from scams sometime in the near future.
The TON Wallet is already established in all of Asia and Russia, and has been activated over 100 million times worldwide in 2024 alone. Its launch in the US taps into a market of more than 87 million Telegram users, according to Sensor Tower data.
Telegram’s Web3 push is led by The Open Platform, which recently raised $28.5 million in a Series A funding round at a $1 billion valuation. The round was led by Ribbit Capital and included Pantera Capital as a partner.
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