Telegram has introduced a crypto wallet on its messaging app, causing the Toncoin price to surge by approximately 7%. The wallet, which is built on the TON blockchain, is now accessible to the app’s 800 million users worldwide. Additionally, projects utilizing the TON blockchain will receive priority access to Telegram’s advertising platform. Although the wallet feature is currently located in the settings, it is scheduled for a global rollout in November, excluding certain countries such as the United States. In 2019, Telegram initially planned to introduce the TON-based wallet but severed ties with the blockchain foundation due to legal action from the U.S. Securities and Exchange Commission. However, the partnership with the TON Foundation has recently been reinstated, aiming to establish a Web3 infrastructure on the messaging platform and facilitate user-friendly crypto access.

Source: www.cointelegraph.com