Telegram has finally brought its built-in cryptocurrency wallet to users in the United States, expanding focus on blockchain.
Known as the TON Wallet, this self-custodial crypto wallet is now embedded directly within the Telegram app, enabling millions of American users to buy, send, and manage digital currencies without needing any extra downloads or logins.
Developed by The Open Platform (TOP) and powered by the TON blockchain, the wallet supports stablecoin transfers, token swaps, staking, and zero-fee crypto purchases through its partnership with MoonPay. It also allows users to engage with decentralised apps inside Telegram’s Mini Apps ecosystem.
This move into the U.S. market comes after years of regulatory challenges that had forced Telegram to restrict the wallet’s rollout to other regions. That has now changed, according to TOP’s CEO Andrew Rogozov.
“We started considering the U.S. as a more interesting opportunity for us,” he told CNBC, pointing to Telegram’s growing user base and what he described as a shift in regulatory conditions.
“Our goal, our mission here, is to remove as much friction as possible,” Rogozov said. “And this is basically what crypto is trying to solve, especially at the global scale, by removing all the borders.”
Until now, TON Wallet has seen adoption mainly outside the U.S., with over 100 million global users activating the service in 2024 alone, roughly 10% of Telegram’s 1 billion active users. Data from the TON blockchain shows it processes around 334,000 transactions daily.
The TON Wallet distinguishes itself by focusing on simplicity. It uses a split-key backup system, where part of the user’s security credentials are tied to their Telegram account and the other part to their email, taking out the traditional need to store complex seed phrases.
Rogozov explained: “No need to download the wallet, no need to remember the seed phrase. This is how we simplify the whole thing.”
This development puts Telegram in direct competition with established crypto players like Coinbase and Cash App, especially as the company leverages its vast messaging user base to drive adoption of its crypto services.
By embedding the wallet inside its app, Telegram removes typical onboarding barriers for new crypto users. Sending stablecoins or tokens to a contact now works much like sending a regular message.
Interestingly, this move also highlights Telegram’s evolving relationship with the TON blockchain. The company had originally distanced itself from TON after abandoning its crypto token project in 2020 under pressure from the U.S. Securities and Exchange Commission.
However, over time, Telegram has re-integrated TON-based technologies such as tokenised usernames and blockchain-powered collectible marketplaces like Fragment.
While TON Wallet doesn’t directly offer regulated financial services in the U.S., it avoids potential legal risks by relying on partners like MoonPay for fiat on- and off-ramps, using debit cards and other payment channels.
