✔️ Information reviewed and updated in May 2024 by Eduardo López
The Resurgence of the Original Vision of TON and Telegram
Popular messaging app Telegram has taken a major step by again endorsing the TON network as its preferred blockchain and integrating the project's cryptocurrency wallet into its user interface.
Telegram and TON: A Renewed Partnership
The TON Foundation has announced an exciting partnership with Telegram that will allow more than 800 million monthly active users of the messaging app to access the TON Space self-custody wallet. This integration marks a return to Telegram's original vision of providing users with full control of their identities and digital assets.
Global Access to TON Space
Starting in November, global Telegram users (except residents of the United States and some other countries) will have the opportunity to use the TON Space wallet. In addition to this, Telegram will give priority access to its global advertising platform, Telegram Ads, to TON projects and partners. This collaboration promises to further expand TON Space's reach and utility in the world of cryptocurrencies.
TON and Telegram: An Intertwined History
TON, originally launched in 2017 by Telegram founders Nikolai and Pavel Durov, had a promising start but later distanced itself from Telegram due to intense US regulation. The Securities and Exchange Commission (SEC) sued Telegram for conducting a $1.700 billion initial token offering (ICO) without proper registration, leading to a settlement in which Telegram refunded funds to investors and paid a fine.
However, the relationship between TON and Telegram was never completely broken. Telegram launched a marketplace for trading Web3 usernames based on the TON network, and the TON-based wallet, available since 2022 via the @Wallet bot, has allowed Telegram users to easily send and receive cryptocurrencies.
Great Interest and Positive Impact
The announcement of the partnership generated huge interest among users, leading to a massive influx on @Wallet and its subsequent collapse. Furthermore, TON's native cryptocurrency saw an 11% increase in price after receiving support from Telegram.
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