Telegram’s US Crypto Wallet Launch Opens New Door for Digital Finance

This feature enables Telegram’s 87 million US users to send, receive, and manage cryptocurrencies and stablecoins such as USDC without the need for external apps or setup processes on exchanges.  

This development could significantly boost consumer engagement with digital assets by streamlining access within a widely used platform.

For Telegram’s US accounts, particularly those already involved in digital assets, the integrated wallet enables peer-to-peer transfers, token staking, asset swaps, and fee-free purchases, all accessible directly through the app’s interface.

How it works

The service, developed by The Open Platform (TOP) and built on the TON blockchain, lets users send digital assets to their contacts much in the same way as they would a message.

“Our goal, our mission here, is to remove as much friction as possible,” said Andrew Rogozov, CEO of TOP, in a statement to CNBC. “And this is basically what crypto is trying to solve, especially at the global scale, by removing all the borders.”

While Telegram rolled out the wallet to its global users in 2024, implementation in the US was delayed due to regulatory uncertainty. More than 100 million users around the world have activated their wallets since the launch.

Technicalities

Telegram officially stepped back from the TON blockchain in 2020 after scrapping its crypto token project under pressure from the US Securities and Exchange Commission (SEC). Since then, though, it has quietly continued rolling out TON-based features—like tokenized usernames, stickers, and emojis—and has publicly backed Fragment, a marketplace for digital collectibles built on the same chain.

Now, with the TON Wallet expanding to US users, it could put pressure on platforms like Cash App and Coinbase due to its massive existing base of 1 billion users, and ease of use within the app.