Telegram, one of the popular messaging apps, continues to strengthen its relationship with cryptocurrency and blockchain technology. The platform, which has over 800 million active users, has decided to integrate the Open Network (TON) based crypto wallet ‘TON Space.’ This development also led to a notable increase in the price of the TON token.
Telegram and TON Space Integration
Telegram announced the integration of the TON Space crypto wallet into its platform. According to the announcement by the TON Foundation, users will be able to access this wallet from the Telegram settings menu. This new feature will be available globally starting from November. This step by Telegram further simplifies cryptocurrency transactions for its users.
Additionally, Telegram has integrated TON into its own Web3 infrastructure, providing a network-specific introduction within its user interface. This development strengthens the platform’s emphasis on the TON network and its relationship with the crypto community.
Jump in the Price of the TON Token
This new initiative by Telegram has resulted in approximately a 7% increase in the price of the TON token. Telegram initially started developing the TON blockchain in 2018; however, it abandoned the project in 2020 following a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) alleging the sale of unregistered securities. The project was revived in 2021 by community members through the TON Foundation.
Currently, all Telegram Wallet users can access TON Space, and starting in November, global access to the personal storage wallet will be enabled.