Telegram Launches TON Space Wallet With TON Foundation

Telegram Launches TON Space Wallet With TON Foundation

In a revolutionary partnership with Telegram, the TON Foundation launched TON Space, a self-hosted encrypted wallet for its 800 million users. This is a major advance for TON (The Open Network).

TON Space, a recently introduced wallet, is seamlessly incorporated into Telegram Messenger, allowing users quick access.

The wallet is accessible via the preferences, allowing users to manage their cryptocurrencies and transactions easily.

TON Space is now available to all Telegram Wallet users immediately. This wallet, essentially a machine, enables purchasing and selling cryptocurrencies.

Starting in November, this self-custodial wallet will be accessible to users worldwide, except for the United States and a few other countries, due to regulatory restrictions.

This partnership represents a significant milestone for TON, which has faced setbacks in the past.

In 2020, following a legal battle with the U.S. Securities and Exchange Commission (SEC), the app abandoned its TON initiative.

The SEC filed a lawsuit against Telegram in 2019, alleging that the company raised $1.7 billion through Grams, an unregistered security token.

In order to settle with the SEC, Telegram refunded unused investor funds and paid a $18.5 million sanction.

Since then, TON has continued as an open-source community initiative supported by numerous community organizations.

Telegram Launches TON Space Wallet With TON Foundation
TON price chart. Source: TradingView

As part of the partnership, TON projects and collaborators will have priority access to Telegram Ads, the app’s global advertising platform.

This action has increased the value of TON, with its token price rising by more than 15% to $1.92.

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