The Open Network Foundation (TON Foundation) has teamed up with Blockchain.com to provide seamless access to cryptocurrencies for Telegram’s vast user base, which comprises over 700 million monthly active users.
This collaboration also brings an enticing incentive scheme for Blockchain.com users, offering an extra $5 worth of Toncoin when purchasing $20 worth of Toncoin on the platform.
TON Foundation, established in 2023, is a Swiss nonprofit organisation with a mission to advance the Web3 ecosystem within Telegram. Toncoin, the native cryptocurrency of the TON network, supports transaction pairs with GBP, USD, and EUR. On the other hand, Blockchain.com is a platform catering to both retail customers and institutional players in the cryptocurrency sector.
Toncoin currently exhibits a 1.6% gain in today’s trading.
Over the past week, it has experienced an 8.6% increase, while the past year has seen a 68.7% gain, according to data.
This partnership empowers Telegram users to effortlessly manage their cryptocurrencies, making buying, selling, and trading as straightforward as sending a text message.
In addition, the collaboration opens up Toncoin to the 90 million wallets hosted by Blockchain.com, providing a gateway for users to buy and sell their digital assets. This development is expected to significantly boost Toncoin’s adoption and user engagement.
TON Foundation also introduced TON Space, a self-custody cryptocurrency wallet linked to the TON network in September 2023. It was integrated into Telegram’s settings menu for existing wallet users outside the U.S., and it will become a default feature in Telegram’s menu from November 2023.
As this partnership makes it easier for Telegram users to delve into the world of cryptocurrencies, one can’t help but wonder whether it will pave the way for more individuals to embrace Web3 and its promises. The increasing accessibility and user-friendly features may indeed bring more people on board, especially with Telegram’s massive 800 million monthly user. However, only time will tell how this evolution unfolds, but the future of Web3 is looking increasingly intriguing.