Unveiling the TON Wallet
The introduction of the TON wallet was announced during the Token2049 event in Singapore, an important milestone that was initially planned as far back as 2019. The wallet is developed on the TON blockchain and is made accessible to Telegram’s 800 million users worldwide. This integration led to a noticeable increase of nearly 13% in the TON’s value, reaching a three-month high of $1.97.
— TON 💎 (@ton_blockchain) September 13, 2023
A Token of Privilege
The TON Foundation has confirmed that projects built on the TON blockchain will have privileged access to Telegram’s advertising platform, Telegram Ads. Furthermore, TON- based affairs will gain additional visibility, benefiting from the platform’s widespread reach. The availability of the wallet feature in the settings for existing users has started, with a global rollout planned for November later this year, excluding the United States and several other countries.
TON Space: A Digital Wallet Solution
In addition to the TON Web3 wallet, the teams introduced the TON Space digital wallet, further expanding Telegram’s blockchain capabilities. The wallet had previously been available as a standalone bot in Telegram with 3 million registered users and is now accessible to all users via their settings.
The Bumpy Ride to Integration
The journey to the integration of the TON wallet was not without obstacles. Telegram had previously hinted at plans for integration in 2019, but encountered hurdles in 2020 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against it for raising $1.7 billion through an unregistered Initial Coin Offering (ICO). This led to Telegram severing its ties with the TON Foundation. However, the setback resolved with Telegram settling with the SEC, paying a fine of $18.5 million, and promising to return any unspent funds to investors.
What significant update has Telegram made recently?
Telegram has integrated the TON blockchain wallet into its platform.
How did the TON token value respond to this announcement?
The TON token value saw a nearly 13% increase following the announcement.
How many users can access the TON wallet via Telegram?
The TON wallet will be accessible to Telegram’s 800 million users worldwide.
Will TON blockchain-based projects have any advantages on Telegram?
Yes, projects built on the TON blockchain will have privileged access to Telegram’s advertising platform, Telegram Ads.
When is the global rollout of the TON wallet feature planned?
Telegram plans a global rollout of the wallet feature in November.