Telegram to Launch Native Gram Crypto Wallet This Summer
Free and instant crypto transactions for over 1 billion users are coming.
1Telegram's Crypto Move
Telegram will introduce its native Gram wallet this summer, enabling free and instant crypto transactions for over 1 billion users. Pavel Durov stated this would be the largest non-custodial wallet launch in human history.
2What Is a Non-Custodial Wallet?
Non-custodial wallets allow users to retain full control over their crypto assets. Telegram's Gram wallet enhances security by letting users manage their private keys, eliminating reliance on third parties.
3Integration with TON Blockchain
The Gram wallet will work seamlessly with The Open Network (TON) blockchain, closely integrated with Telegram. TON recently rebranded its native token from Toncoin to Gram, symbolizing a return to the project's 2018 roots.
4Potential of the User Base
Telegram's over 1 billion monthly active users give the Gram wallet adoption potential far beyond other crypto apps. Even limited uptake could significantly boost the adoption of crypto payments.
5New Direction After SEC Settlement
After settling with the U.S. Securities and Exchange Commission (SEC) in 2020, Telegram abandoned its original blockchain project. However, the company has recently increased support for the TON ecosystem and is expanding its crypto services.
6A Major Step for the Crypto World
Telegram's Gram wallet could be a pivotal moment for the crypto world. With its potential to reach billions, it may play a critical role in mainstreaming self-custody and peer-to-peer payments.