Telegram and TON deepen integration with crypto function

by Arthur · March 29, 2023

According to a press release shared with Bitcoinist, the TON Foundation launched a new crypto feature for Telegram users. Starting today, users from the platform can purchase a premium subscription from TON.

The native token from the TON blockchain, the new feature is part of Telegram’s expansion of crypto features. Over the past six months, the platform has launched several features to give users access to digital assets.

TON sees some gains after Telegram subscription announcement. Source: TONUSDT Tradingview

Telegram makes it easier to access cryptocurrencies

According to the release, users can activate their Telegram premium subscription with TON by using the website fragment.com. The payments provider and digital marketplace has been a key partner for the company as it expands crypto opportunities.

Built on top of the TON blockchain and launching in 2022, Fragment offers people access to tokenized Telegram handles, TON-based gifts, and more. Andrew Rogozov, a founder at the TON Foundation, said:

We are pleased that the Fragment team continues to deepen its integration with Telegram Messenger and expand its functionality. Our goal is to create a user-friendly experience to bring blockchain technology to the masses, and we recognize that developments of this type that serve Telegram’s extensive user base will help accelerate the mass adoption of blockchain technology.

Last year, Telegram gave users access to username auctions on the TON network. These usernames are unique and allow people to access an account without providing a phone number. Users can participate in the auctions by acquiring TON.

In addition to improving privacy, Telegram claims the feature protects them from bad actors and from giving away control of their data to a centralized entity. The auctions were a success, according to Telegram founder Pavel Durov, who said at the time:

I am really impressed with the success of the auction TON recently conducted for their domain/wallet names. Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000. If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links up for auction.

A week ago, Telegram enabled users to send and receive transactions with the largest stablecoin on the market, USDT, via their wallet bot. The feature was available with TON and will likely continue to expand in the coming months.

Cover image from Yahoo Finance, chart from Tradingview