In a major development for the Crypto Trading and Web3 ecosystem embedded in top messaging apps, Telegram has introduced new features to its TON-based crypto wallet, enabling seamless multi-asset trading within the app.
The upgrade is set to enhance accessibility and usability for Telegram’s massive global user base, further positioning the platform as a key player in the crypto space.
Notably, this update came only two days before the reports of Pavel Durov, Telegram’s founder and CEO, was granted permission by French authorities to temporarily leave France amidst an ongoing investigation into criminal activities on the messaging app. Following this, Toncoin (TON) price, saw an impressive 20% price increase, with the token reclaiming the $3 mark.
Key Features of the Telegram’s Crypto Wallet Update
According to the latest announcement, the new wallet upgrade includes:
1. Multi-Asset Trading: Users can now trade various cryptocurrencies directly through the Telegram wallet, streamlining transactions within the app. Aiming to bring more tokens soon, it will allow users to trade hundreds of crypto coins, including ETH, XRP, DOGE, and PEPE, using USDT or TON and build portfolio — all via its wallet.
2. Seamless Swaps: The wallet supports instant swaps between supported assets, ensuring fast and low-cost transactions.
3. Introduces Wallet Earn: Making it a permanent feature of Telegram’s Crypto Wallet, with the first campaign for TON holders already live. This feature will allow users to start earning long-term rewards, with daily earnings automatically added to their balance. They can withdraw or add funds anytime with zero fees. It says that while the average yield is 4%, it will vary based on validators’ reward.
4. User-Friendly Interface: A refined UI design makes trading and asset management more intuitive, catering to both novice and experienced users.
Embracing Crypto Trading in Messaging Apps
Telegram first introduced its official TON-based crypto wallet in September 2023, allowing users to send and store digital assets directly within the app. Since then, the wallet has seen continuous enhancements, with the latest upgrade offering multi-asset trading support.
This feature enables users to trade different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Toncoin (TON), without needing to leave the Telegram ecosystem.
The integration of multi-asset trading aligns with Telegram’s broader push to bring decentralized finance (DeFi) tools to mainstream users. By simplifying crypto transactions and trading, Telegram aims to lower the barrier to entry for millions of users unfamiliar with traditional crypto exchanges.
Industry experts suggest that the new features could challenge traditional exchanges and DeFi platforms by providing a more accessible and integrated trading experience. “Telegram’s move to enable multi-asset trading within its wallet is a game-changer. It reduces the need for external crypto exchanges and simplifies access to digital assets,” said a blockchain analyst from Coingape.
What’s Next for Telegram’s Crypto Wallet?
Telegram has hinted at further enhancements in the pipeline, including support for more cryptocurrencies, DeFi integrations, and staking options. The company is also reportedly exploring ways to integrate its wallet with other Web3 applications, further solidifying its position in the crypto industry.
As competition in the blockchain space intensifies, Telegram’s move to expand its TON-based wallet with multi-asset trading positions it as a formidable player in the digital asset ecosystem. Whether this innovation will disrupt traditional crypto exchanges remains to be seen, but one thing is clear: Telegram is determined to push the boundaries of mainstream crypto adoption.
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Sneha Agrawal 
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