Telegram, the popular chat app with 800 million monthly active users, is rolling out a self-custodial crypto wallet. The move is set to solidify its presence in the lively crypto community that has emerged from its chat platform and can potentially help drive the masses into the crypto space.
The wallet is built by the Open Network Foundation, which was originally started by Telegram founders and later split off after the U.S. Securities and Exchange Commission sued the messenger over a massive initial coin offering. Telegram and TON Foundation jointly announced the new self-custodial wallet, called TON Space, on Wednesday at Singapore’s Token2049 crypto conference which boasts more than 10,000 attendees.
TON Space will be available globally starting in November, excluding certain countries like the U.S., which has launched a series of crackdowns on the crypto industry and promoted many crypto apps to geofence users from the market.
TechCrunch has some more details from our conversation with TON Foundation on-site today. Check back for more details.