Telegram’s crypto pockets, developed by a third-party firm referred to as The Open Platform (TOP), has launched new options for individuals who don’t simply use Telegram as a messaging app. The updates embody multi-asset buying and selling and yield functionalities.
Based mostly on the TON blockchain, TOP launched the pockets in 2023. The corporate reported that over 100 million customers have signed up for an account with Pockets on Telegram. Moreover, it famous that almost all of those customers have been new to the crypto ecosystem.
The pockets product has primarily been targeted on the Toncoin cryptocurrency, which can be utilized on the Telegram platform to tip creators or pay for mini-games and apps. It additionally helps Bitcoin and USDT (on the TON blockchain). For the reason that preliminary launch, the pockets has additionally gained help of different currencies like Notcoin.
Following at the moment’s replace, TOP says that customers will be capable of purchase, promote, or maintain crypto with none on-chain deposits. This makes it simpler for newer customers to get into crypto holding and buying and selling.
The corporate can also be introducing an incomes part to the pockets for holding a specific amount of Toncoin. It stated that whereas the typical yield is 4%, it’ll fluctuate based mostly on validators’ reward. Later this yr, TOP plans so as to add yields for USDT holdings and launch loyalty applications that may profit Toncoin holders.
Telegram Pockets has undergone a makeover as nicely, with a brand new navigation bar on the backside and a straightforward strategy to change between the Pockets, Commerce, and Earn sections.
“This replace enhances Pockets’s performance, to satisfy shoppers’ expectations for an open and vast market. With present replace Pockets now operates as a fully-fledged crypto platform inside Telegram whereas remaining as easy and accessible as ever. We additionally plan to implement a loyalty program particularly for Toncoin holders, to additional increase the adoption of TON Ecosystem,” TOP’s CEO Andrew Rogozov stated in an announcement.
The brand new pockets replace will begin rolling out to customers in March and April. TOP stated that some options is likely to be restricted in some international locations based mostly on native rules.
Final December, Telegram founder Pavel Durov stated that the corporate grew to become worthwhile. The platform has greater than 950 million month-to-month energetic customers. Cryptocurrencies have contributed to the corporate’s bottom-line because of integrations with content material and mini app funds.
The story is up to date after the corporate’s enter on yield and self-custody.
