Telegram launches its TON crypto wallet in the US

Telegram has launched its TON cryptocurrency wallet in the United States as part of its expansion into Europe and the Western market. It is being developed by a third-party company, The Open Platform (TOP), on the TON blockchain platform.

Main functions of the wallet

• Cryptocurrency trading: Toncoin, BTC, USDT are supported, and ETH, XRP, DOGE, PEPE, etc. are planned - without the need to make on-chain deposits.
• Yield: owners of Toncoin are offered ~4% per annum (varies according to the rewards of validators); later, similar opportunities for USDT and a loyalty programme will be introduced.
• Payment for services
• Updated interface: a navigation bar with three tabs - Wallet, Trade, and Earn.

Expansion to the US - why is it necessary?

Telegram launched a blockchain wallet in 2023 in many countries around the world, but this feature was not available in the United States due to legal uncertainty. According to Telegram itself, more than 100 million users activated the wallet last year, which is 10% of the 1 billion Telegram users in the world.

TOP has gained the status of a unicorn: it has already raised $28.5 million in the first round at a valuation of $1 billion; now the priority is to enter the US and EU markets.

Bottom line.

Telegram Wallet is already available in the US in beta, with trading, streaming passive income, and an updated UI. If you're new to cryptocurrencies, this integrated wallet can be a convenient entry point. But if your privacy is important to you, consider separate wallets on TON, as it has recently become known that Telegram uses the infrastructure of people close to the FSB.