Telegram launches self-custodial crypto wallet, TON Space

abdelaziz Fathi

The Open Network Foundation (TON Foundation) revealed that Telegram, the popular messaging app with around 800 million users, is introducing a self-custodial crypto wallet called TON Space.


This wallet, now available on Telegram, aligns with the TON Foundation’s ambitions to bring self-custodial digital asset management to Telegram’s extensive user base.

Furthermore, the TON Foundation announced that projects developed on the TON platform will receive priority access to Telegram’s advertising platform, Telegram Ads. This integration is expected to increase the adoption and usability of crypto within the Telegram ecosystem, potentially opening the door to millions of users exploring and utilizing crypto assets.

The novel wallet, developed by The Open Platform (TOP), is designed to facilitate decentralized payments and help developers in crafting cryptocurrency-compatible mini applications that operate within the Telegram ecosystem.

Telegram’s approach to cryptocurrency diverges from traditional centralized solutions, prioritizing user control over their digital assets. This initiative aligns with its overarching objective of evolving into a comprehensive “super app,” akin to WeChat, while expanding its ecosystem by incorporating decentralized functionalities.

While there are other crypto wallets available outside of Telegram, the challenge often lies in user adoption and distribution. By integrating TON Space into its platform and offering priority access to TON projects and partners through its global advertising platform, the app can overcome these challenges and promote the use of decentralized apps.

Signal, another encrypted chat app, also offers a crypto payments solution developed by a third-party partner called MobileCoin. While both Signal and Telegram are exploring crypto integration, their solutions may attract different user demographics.

In 2021, Telegram agreed to hand over all bank statements related to its $1.7 billion ICO after it abandoned its TON blockchain project. The decision came after mounting legal ramifications coupled with the more aggressive stance taken by the US regulators, which ultimately made Telegram executives reconsider their crypto ambitions altogether.

At the time, Telegram CEO blasted the court’s ruling that found the resale of Grams into the secondary public market would be an integral part of the scheme that involves US purchasers and thus likely securities laws would apply. The rejection centered around the same claims that supported the preliminary injunction, including whether Telegram could flood United States markets with billions of Grams and if the token itself is a “security”.

Following the increased regulatory crackdown, Telegram said it may abandon some of the most critical parts of its crypto strategy. For one, the popular app publicized plans that it will no longer integrate its Gram token into the Telegram Messenger, basically offering the wallet solely on a stand-alone basis.

Read this next

Digital Assets

Coinbase nears deal to buy FTX Europe, lured by its derivatives business

Coinbase is reportedly in the final stages of negotiations to acquire FTX Europe, signaling its intent to expand in regions with well-defined cryptocurrency regulations.

Digital Assets

MicroStrategy buys more bitcoins as crypto bet loses +$600M

MicroStrategy has purchased another 5,445 bitcoins for approximately $147.3 million in cash, adding to its massive cryptocurrency holdings during a sharp drop in the price.

Digital Assets

TYRION Set To Decentralize The $377B Digital Advertising Industry

TYRION, a groundbreaking player in decentralized digital advertising, has launched its innovative blockchain-based platform aimed at disrupting an industry long dominated by centralized tech giants, by addressing issues like lack of transparency, data privacy, and declining ROI, while also offering features like social platform integration, robust analytics, and a deflationary mechanism for its native $TYRION token.

Institutional FX

TD Bank sells TD Cowen’s $1.3B business to Marex

London-headquartered commodities broker Marex has agreed to acquire TD Cowen’s prime brokerage and outsourced trading business, which will be integrated into Marex’s capital market division. This division was established following the acquisition of ED&F Man Capital Markets in 2022.

Retail FX

ThinkMarkets reports flat revenues, lower profit for FY2022

The UK business of Melbourne-based broker, ThinkMarkets, today reported its financial results for the fiscal year ending December 31, 2022. The multi-asset platform, trading in the UK as TF Global Markets UK, had seen mixed results in a couple of key areas over a yearly basis.

Institutional FX

Finalto named ‘Best CFD Liquidity Provider’ at Ultimate Fintech Awards Global 2023

“This recognition is a testament to our commitment to providing exceptional liquidity services, innovative solutions, and outstanding customer support. We would like to express our sincere gratitude to our clients and partners for their trust and support. We will continue our efforts and look forward to delivering even greater value to our clients in the future.”

Digital Assets

New Cryptocurrency Meme Kombat ($MK) Launches Public Token Presale, Staking Platform

Meme Kombat, a new gaming platform blending the allure of internet memes with competitive battle arenas, has announced that the presale for its native $MK token is now live, offering a high APY of 112% and creating significant buzz in the crypto and Web3 communities.

Digital Assets

Hydranet Launches Layer 3 DEX: A Game Changer for Trustless Cross-Chain Trading

Hydranet has unveiled its groundbreaking Layer 3 trading platform, Hydranet DEX, that allows for near-instant, low-fee, and trustless cross-chain trading between Bitcoin and Ethereum ecosystems, marking a significant milestone in the project’s development journey.

Digital Assets

Coinbase gets nod to launch crypto services in Spain

Coinbase has scored Anti-Money Laundering (AML) compliance registration with Spain’s central bank as part of its continued expansion efforts in Europe.