Messaging platform Telegram has begun rolling out its self-custodial cryptocurrency wallet to users in the US.
The feature allows users to send, receive, and manage digital assets without relying on external applications, browser extensions, or separate logins.
The wallet, developed by The Open Platform (TOP) and built on the TON blockchain, is self-custodial, meaning users maintain control over their private keys. It includes a split-key backup system that links one portion of the security credentials to the user's Telegram account and the other to their email, an approach designed to streamline access while maintaining self-custody.
Entering a crowded US crypto market
The expansion into the US follows months of delay attributed to regulatory uncertainty. According to officials from TOP, the company has observed a shift in the US regulatory landscape over the past year, prompting it to move forward with deployment. They noted that the growing number of Telegram users engaging with digital assets also influenced the timing.
Telegram has maintained an indirect relationship with the TON blockchain since it halted its own crypto project in 2020 under pressure from the US Securities and Exchange Commission. While it formally withdrew from development, the platform has continued to integrate TON-related features, including tokenised usernames and a marketplace for digital collectables.
TON Wallet supports a range of functions such as peer-to-peer transfers, token swaps, staking, and zero-fee crypto purchases through an arrangement with MoonPay, a regulated provider. On- and off-ramps are available through debit cards, and the wallet also links to various decentralised applications within Telegram’s Mini Apps ecosystem.
Representatives from TOP described the wallet as a key infrastructure component for Telegram's crypto-related features, saying that ease of use was central to its design. They also characterised the product as part of an effort to reduce friction in cross-border transactions and digital asset usage.
For regulatory reasons, Telegram does not offer direct financial services via the wallet. Instead, it relies on partnerships with licenced third-party providers for functionalities such as fiat-to-crypto conversions.
