Telegram, the popular messaging app, has announced its partnership with TON, a blockchain network that aims to power the Web3 infrastructure.
The app will integrate the TON-built Web3 wallet, which allows users to access decentralized applications and manage their digital assets.
The wallet is already available as a standalone bot in Telegram and has 3 million registered users.
It will soon be accessible to all 800 million Telegram users through their settings. The wallet’s native token, Toncoin (TON), saw a 6.5% increase in value after the news.
The partnership is a major milestone for both Telegram and TON, as they seek to bridge the gap between Web2 and Web3.
Telegram’s chief investment officer John Hyman said in a statement: “We are putting digital ownership rights in the hands of our entire user base, while also giving TON projects the tools to reach our audience in the largest Web3/Web2 partnership there has ever been.”
The wallet, which is self-custodial and non-custodial, will be rolled out to all Telegram users outside the U.S. by November, according to the TON Foundation.