Wallet in Telegram expands to offer multi-asset trading and new earn features
Quick Take
- Wallet in Telegram is expanding into multi-asset trading, gradually supporting additional cryptocurrencies beyond BTC, TON and USDT — including ETH, XRP and DOGE.
- Wallet Earn is also becoming a permanent feature, providing yield on Toncoin held in the app, with other assets to follow.
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Wallet in Telegram — which claims to have more than 100 million registered users — is expanding its offering to include multi-asset trading and permanent earn features, according to TON ecosystem venture builder The Open Platform.
The custodial wallet soared in popularity amid the 2024 TON ecosystem mini-app boom, tapping into Telegram's 950 million user base. Participants flocked to play games like Hamster Kombat and Notcoin in the hope of earning TON-based tokens. However, the initial hype of activity subsided toward the end of last year.
In addition to TON, BTC, USDT and TON-native tokens, Wallet in Telegram is introducing support for hundreds of cryptocurrencies, including ETH, XRP, DOGE and PEPE. Its new Wallet Trade section will allow users to buy, sell and hold tokens without onchain deposits or withdrawals.
Its Wallet Earn section expands beyond previous time-limited campaigns to become a permanent feature in the mini app. Initially providing a "flexible yield" on TON held in user wallets, additional assets are planned over the coming months.
"With current update Wallet now operates as a fully-fledged crypto platform within Telegram while remaining as simple and accessible as ever," The Open Platform CEO Andrew Rogozov said in a statement shared with The Block. "We also plan to implement a loyalty program specifically for Toncoin holders, to further boost the adoption of TON's Ecosystem."
The wallet update will be gradually rolled out in March and April. However, the new features may be restricted in some jurisdictions due to regulatory compliance.
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