In a move set to disrupt the world of cryptocurrencies and further its mission of providing freedom of speech, Telegram is gearing up to integrate a cryptocurrency wallet based on The Open Network (TON) for its massive user base of over 800 million active users. This wallet, aptly named TON Space, will be globally accessible through Telegram settings, starting in November 2023.
The integration of TON Space marks a significant milestone for Telegram, and it’s already available to Telegram Wallet users, as reported by The Block. Previously, Telegram Wallet, a chatbot within the platform, allowed users to make cryptocurrency payments in Bitcoin and Toncoin directly through the messenger. However, from November onwards, this functionality will expand to nearly all Telegram users, except for those in the United States and some other markets where regulatory agreements were challenging to reach.
TON Space: A New Infrastructure Layer
TON Space is poised to become the new infrastructure layer of the TON ecosystem. This development is set to not only revolutionize the world of cryptocurrencies but also provide TON projects and partners with priority access to Telegram’s global advertising platform, Telegram Ads.
At the core of this initiative lies Telegram’s unwavering commitment to user freedom, both in terms of speech and now in the realm of digital assets. With TON Space, users will have the technology they need to conveniently and securely manage their digital assets and identity.
John Hyman, Telegram’s Chief Investment Officer, expressed his enthusiasm for this partnership, highlighting that it empowers the entire user base with digital ownership. Additionally, TON projects will gain powerful tools to reach audiences, marking what Hyman describes as “the largest Web3/Web2 partnership that has ever existed.”
This integration represents a pivotal moment in the world of cryptocurrencies, as one of the world’s most popular messaging platforms embraces digital assets on a massive scale. Telegram’s move not only aligns with its mission of freedom but also brings the world one step closer to widespread cryptocurrency adoption.
