Telegram’s crypto wallet, developed by third-party company The Open Platform (TOP), has introduced new features for users who engage with Telegram beyond just messaging.
The latest updates bring multi-asset trading and yield-earning capabilities to the platform.
Built on the TON blockchain, TOP launched the wallet in 2023. Since then, over 100 million users have signed up, most of whom are newcomers to the crypto world, according to the company.
Initially, the wallet focused on Toncoin, which Telegram users can use to tip creators, play mini-games, and purchase in-app services. It also supports Bitcoin and USDT (on the TON blockchain). Over time, additional currencies like Bitcoin have been integrated.
With the latest update, TOP has enabled users to buy, sell, and hold crypto without requiring on-chain deposits, making it easier for beginners to enter the crypto space. Additionally, the wallet now offers yield-earning opportunities for users holding Toncoin. While the average yield is around 4%, it varies based on validator rewards. Later this year, TOP plans to introduce yield options for USDT and launch loyalty programs designed to benefit Toncoin holders.
The Telegram Wallet has also received a visual overhaul, featuring a redesigned navigation bar for easier access to Wallet, Trade, and Earn sections.
“This update significantly enhances Wallet’s functionality, aligning with consumer expectations for a more open and accessible market. With this upgrade, Wallet now operates as a comprehensive crypto platform within Telegram while maintaining its simplicity. We also plan to introduce a loyalty program for Toncoin holders to further drive adoption within the TON ecosystem,” said TOP CEO Andrew Rogozov.
The rollout of these new features will begin in March and April. However, due to local regulations, some functionalities may be restricted in certain regions.
Telegram, which now boasts over 950 million monthly active users, became profitable last December, according to its founder Pavel Durov. The integration of cryptocurrencies, particularly for content and mini-app payments, has played a role in the platform’s financial success.
