Telegram’s crypto pockets, developed by a third-party firm referred to as The Open Platform (TOP), has launched new options for individuals who don’t simply use Telegram as a messaging app. The updates embody multi-asset buying and selling and yield functionalities.
Based on the TON blockchain, TOP launched the pockets in 2023. The firm reported that over 100 million customers have signed up for an account with Wallet on Telegram. Additionally, it famous that the majority of those customers have been new to the crypto ecosystem.
The pockets product has primarily been targeted on the Toncoin cryptocurrency, which can be utilized on the Telegram platform to tip creators or pay for mini-games and apps. It additionally helps Bitcoin and USDT (on the TON blockchain). Since the preliminary launch, the pockets has additionally gained assist of different currencies like Notcoin.
Following as we speak’s replace, TOP says that customers will be capable to purchase, promote, or maintain crypto with none on-chain deposits. This makes it simpler for newer customers to get into crypto holding and buying and selling.
The firm can also be introducing an incomes element to the pockets for holding a specific amount of Toncoin. It mentioned that whereas the common yield is 4%, it’s going to differ based mostly on validators’ reward. Later this 12 months, TOP plans so as to add yields for USDT holdings and launch loyalty packages that will profit Toncoin holders.
Telegram Wallet has undergone a makeover as effectively, with a brand new navigation bar on the backside and a simple technique to change between the Wallet, Trade, and Earn sections.
“This replace enhances Wallet’s performance, to satisfy shoppers’ expectations for an open and broad market. With present replace Wallet now operates as a fully-fledged crypto platform inside Telegram whereas remaining as easy and accessible as ever. We additionally plan to implement a loyalty program particularly for Toncoin holders, to additional increase the adoption of TON Ecosystem,” TOP’s CEO Andrew Rogozov mentioned in a press release.
The new pockets replace will begin rolling out to customers in March and April. TOP mentioned that some options may be restricted in some international locations based mostly on native rules.
Last December, Telegram founder Pavel Durov mentioned that the corporate grew to become worthwhile. The platform has greater than 950 million month-to-month lively customers. Cryptocurrencies have contributed to the corporate’s bottom-line because of integrations with content material and mini app funds.
The story is up to date after the corporate’s enter on yield and self-custody.
