Telegram to Integrate a Crypto Wallet Called TON Space

Telegram to Integrate a Crypto Wallet Called TON Space

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The waitlist for the integration of a self-custody wallet TON Space within Telegram Messenger is now available for developers.

Merging Web2 and Web3

On Wednesday, August 9, the TON, a blockchain system originally created by Telegram, announced the launch of its self-custodial crypto wallet TON Space that would be integrated in the prominent messaging app. The product is now in its beta phase and available for developers only.

By applying for the beta version of TON Space, developers will have a chance to integrate the wallet into their apps before everyone else. 

TON Space aims at facilitating the Web3 adoption by offering the whole user experience entirely within Telegram Messenger. Developers will be able to build their apps, integrate the blockchain, and unboard their users without leaving the platform.

“The developers’ beta is a critical moment in launching the first self-custodial wallet built into a thriving Web2 platform,” said Jordan Dunne, Head of DeFi at Wallet. “The introduction of TON Space will allow blockchain developers to build Web3 services that feel like the intuitive mobile app experiences users have every day. Easy-to-use and all without ever leaving Telegram, with 800 million users every month, this opens up a staggering growth opportunity for builders.”

Main Features of TON Space

As a self-custody wallet, TON Space will provide its users with full control over their assets, allowing them to store, trade, and manage crypto within Telegram. One of the unique advantages of TON Space is that it can be seamlessly linked to any app built on Telegram, all integrated within a single ecosystem. According to the press release, TON Space is the most highly anticipated feature among the users who wish to have full access to the TON network within Telegram Messenger.

The custodial wallet is expected to open for consumer use by the end of Q3 2023. The team also plans to integrate NFT collectables and swapping services into the product by that time.

“The launch of TON Space is a significant milestone that establishes a new infrastructure layer for the TON ecosystem,” commented Justin Hyun, Director of Growth at TON Foundation. “The power to build decentralized applications and bots fully integrated inside of Telegram cannot be underestimated. These services, and their users, will now enjoy the infinite possibilities that come with the power to store, manage, and trade assets within Telegram.”

Telegram vs Twitter?

By integrating the crypto wallet, Telegram, which has always had an unwavering emphasis on privacy and security, is now officially entering the Web3 space. The move makes the global messenger a key player in the industry, which could potentially compete with such giants as X (previously known as Twitter), recently bought and rebranded by Elon Musk

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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