In a groundbreaking move that is sending shockwaves through the crypto community, the TON wallet has now become accessible to the massive user base of Telegram, boasting a staggering 800 million users. This momentous development has set off a sudden and dramatic surge in the value of the TON token, causing ripples of excitement in the cryptocurrency market.

The TON cryptocurrency, a proud member of the Open Network (TON) Blockchain family, has witnessed a remarkable overnight gain of 12.6%, as per the trustworthy reports from CoinGecko. This astounding leap in price transpired right after Telegram threw its weight behind the TON blockchain for its ambitious Web3 initiatives.

The pivotal announcement took place during the Token 2049 conference held in Singapore, where John Hyman, the Chief Investment Officer of Telegram, took center stage alongside the esteemed TON Blockchain team. With much fanfare, they officially unveiled the seamless integration of the TON Web3 wallet into Telegram’s ecosystem. The result? The token’s price soared to a three-month high, landing at a respectable $1.97, with its latest trading value firmly anchored at $1.92.

What’s particularly noteworthy is that this wallet had already been making waves as a standalone bot within Telegram, garnering an impressive 3 million registered users. However, the latest announcement means that all 800 million Telegram users can now conveniently access it through their settings, transforming the crypto landscape for a vast audience.

But hold onto your hats, because the excitement doesn’t stop there. The visionary teams behind this collaboration have also unveiled the TON Space digital wallet, extending their reach even further into Telegram’s extensive user base. To sweeten the pot, Telegram has rolled out the red carpet for TON-based projects, granting them exclusive privileges and preferential access to its advertising platform.

In a bid to promote this exciting partnership, the TON team even introduced a QR code, a digital treasure map that allowed users to claim a free TON token valued at $1.92. The response was nothing short of overwhelming, causing some minor server hiccups due to the deluge of eager participants.

The TON Blockchain team was quick to address this hiccup, attributing it to the “thousands of people onboarding to the Wallet every second.” In response, they temporarily suspended the TON giveaway via the public QR code on Twitter to ensure a smoother experience for all users.

For those with a keen memory, Telegram’s initial plans to integrate the TON-based crypto wallet date back to 2019. However, they hit a roadblock in 2020 when the messaging app found itself entangled in a legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC had raised concerns about Telegram’s $1.7-billion initial coin offering (ICO), deeming it an unregistered security. To put the matter to rest, Telegram settled with the SEC, agreeing to pay an $18.5-million fine and committing to refund investors for any unspent funds.

Now, with this renewed partnership, the TON Foundation has ambitious plans to construct a robust Web3 infrastructure right within the Telegram ecosystem. The project’s creators are laser-focused on solving onboarding issues and providing a gateway to cryptocurrency for all Telegram users, whether they are seasoned crypto enthusiasts or newcomers to the digital frontier.

The TON Foundation has also made another exciting announcement: projects built on the TON blockchain will receive top-tier access to Telegram’s advertising platform, aptly named Telegram Ads. As of now, the wallet feature is readily available in settings for existing users, with a global rollout set to commence this November. The only exceptions are the United States and a handful of other countries.

In the wake of the FTX incident, where a centralized exchange faced severe backlash from the crypto community, there has been a growing recognition of the importance of self-custodial wallets. These wallets give users greater control over their digital assets, reducing reliance on centralized intermediaries.

Starting in November, TON Space will become accessible to Telegram’s global users without the need for wallet registration. This expanded feature builds upon the existing custodial version of the Telegram wallet, which has already attracted an impressive three million registered users.

So, what exactly is Telegram’s TON Space, and how is it redefining the crypto landscape? In the realm of messaging apps, Telegram is currently undergoing a transformative journey, reshaping the crypto landscape in the process. It’s evolving into what some may refer to as a “super app,” a path previously paved by the likes of WeChat. However, Telegram is taking a unique approach, diverging from the Chinese messaging giant’s centralized payment system. Let’s delve into the fascinating world of TON wallet telegram integration and see how it’s making waves while keeping things simple and decentralized for its users.

Decentralized Payments: Telegram’s Bold Move
One of the most daring and distinctive features of Telegram’s approach is its embrace of decentralized payments in the realm of digital transactions. Unlike other platforms that opt for centralized payment solutions, Telegram is paving the way for developers to craft crypto-compatible mini-apps by seamlessly integrating with the TON Space wallet.

Independence: The Game-Changing Self-Custodial Wallet
At the heart of this transformation is the self-custodial wallet, a game-changer in the crypto world. But what exactly does “self-custodial” mean? In simple terms, it empowers developers to take full control of the flow of digital assets within their projects. Imagine this scenario: You want access to an exclusive private community, and you need a unique NFT-based key or entry card. With the self-custodial wallet, you can effortlessly receive this key, unlocking the gateway to your desired community.

Andrew Rogozov, the CEO of TOP and former CEO of the Russian social media network VK, eloquently summed it up: “Imagine that there is, for example, a private community. And in order to get access to this community, you need to get some sort of NFT-based key, some kind of entry card, and [the user can] receive this in the self-custodial wallet.”

Bringing Digital Assets to the Masses: A Path to Financial Inclusion
Perhaps one of the most compelling advantages of having a crypto wallet within Telegram is its potential to introduce a vast number of users, including many from unbanked populations in developing countries, to the world of digital assets. This marks a significant stride toward achieving financial inclusion on a global scale.

While there are indeed numerous crypto wallets in existence, they often come with their own set of challenges. Andrew Rogozov highlighted two key issues: the complexity of creating a wallet and the lack of distribution for web-based wallets. Setting up these wallets can be a daunting task, deterring many potential users. Telegram aims to address these hurdles by prioritizing decentralized apps and offering TON projects and partners exclusive access to its global advertising platform. This strategic move aims to make crypto more accessible to a broader audience, bridging the gap between traditional finance and the digital frontier.

Signal: A Different Path
Now, some might wonder how Telegram’s approach stacks up against that of Signal, another encrypted chat app with its own foray into crypto payments through a third-party partner, MobileCoin. While it may seem like Signal and Telegram are locked in a fierce competition within the crypto arena, Halil Mirakhmedov, the COO of Wallet and the mastermind behind TON Space, believes they cater to different user bases.

He astutely pointed out that “[Signal] doesn’t have the platform or the community in order to have a social interaction and social discussion of crypto within its app. Because it’s end-to-end encrypted, there’s no ability to create a community.”

In essence, what Telegram’s TON integration is achieving is nothing short of groundbreaking. It’s changing the way we perceive cryptocurrencies, making them more accessible and user-friendly—all within the familiar confines of your favorite messaging app. As Telegram continues to push the boundaries of what’s possible in the crypto world, one can’t help but wonder what exciting developments lie on the horizon for this dynamic partnership.