Telegram is officially launching its integrated cryptocurrency wallet for residents in the United States, enabling them to directly buy, sell, and send digital assets within the popular messaging application. This marks a significant step in bringing decentralized finance (DeFi) to a mainstream audience in the U.S.
The self-custody TON Wallet, built by The Open Platform (TOP), a key developer within The Open Network (TON) ecosystem, first became available to international users in September 2023. The Open Platform recently achieved a $1 billion valuation following its latest funding round, underscoring growing confidence in the TON ecosystem.
The company reported that its wallet saw over 100 million user activations globally last year alone. With Telegram boasting 87 million users in the U.S. (according to SensorTower data), the domestic rollout presents a substantial growth opportunity.
The U.S. launch is supported by the TON Foundation, the organization spearheading development on The Open Network blockchain, which became Telegram’s exclusive blockchain partner earlier this year.
This U.S. expansion is the first significant geographic move since The Open Platform announced its focus on new market entries earlier this month. The Open Platform, which also develops other major TON ecosystem applications like the NFT marketplace Getgems and the token swap protocol STON.fi, recently raised $28.5 million in a Series A funding round led by Ribbit Capital and Pantera Capital, solidifying its unicorn status.
Beyond standard send and receive functionalities, U.S. users will also gain access to staking and yield opportunities, along with 0% fiat on-ramp fees when purchasing cryptocurrencies via Apple Pay, Google Pay, or credit cards through MoonPay’s integrated payment service.
The Open Network (TON) blockchain itself has a notable history. Initially conceived by Telegram, its development was halted in 2020 due to regulatory scrutiny. However, an independent community of developers revived the project, transforming it into The Open Network. Today’s U.S. wallet launch is the latest in a series of growing integrations between Telegram and the TON ecosystem over the past two years.
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