TL;DR
- TON has launched its crypto wallet in the U.S., allowing users to manage tokens like TON and USDT directly within Telegram, without leaving the chat.
- The wallet has already surpassed 100 million users and is now targeting the U.S. audience.
- It aims to compete with apps like Venmo by integrating DeFi into everyday use.
TON has activated its integrated crypto wallet in the United States, enabling any user to handle cryptocurrencies directly within the Telegram app.
TON Wallet, developed by The Open Platform (TOP), had already been available in other countries since 2023. It is now rolling out in Telegram’s largest user market, after reaching sufficient scale and liquidity. The wallet supports buying, selling, sending, and receiving tokens like USDT, all without needing to leave the chat or install extra extensions.
The Open Network ecosystem has solidified in recent months, backed both technically and financially by TOP, the first company in the TON environment to reach a $1 billion valuation. The company raised $28.5 million in its Series A, with investors including Ribbit Capital and Pantera. It also operates other TON-based tools like the NFT platform Getgems and the decentralized exchange STON.fi. TOP plans to expand wallet availability to over 10 additional countries within the next two years.
The U.S. rollout is not only meant to increase its usage but also to compete directly with centralized services like Venmo or Cash App. Through MoonPay integration, users can load funds via credit cards, Apple Pay, or Google Pay with no fiat conversion fees. They’ll also gain access to staking features and token rewards, aiming to merge DeFi services with everyday apps.
TON Targets a New Audience of 87 Million People
Originally created by Telegram, TON was abandoned in 2020 due to regulatory pressure. It later resurfaced as a community-driven project and was adopted once again by Telegram this year as its default blockchain. This technical and commercial partnership is now expanding into markets where cryptocurrencies have yet to achieve widespread adoption.
The wallet has already been activated by over 100 million users worldwide. In the U.S., where Telegram has nearly 87 million active accounts, the potential reach is substantial. By embedding the wallet directly into the messaging platform, The platform aims to remove friction and turn crypto access into something as routine as sending a message.
