Telegram Brings Crypto Wallet to 87 Million US Users

The TON Wallet works directly inside Telegram’s chat interface. Users can send cryptocurrency to their contacts as easily as sending a regular message. This marks the first time a major messaging platform in the US has embedded a self-custody crypto wallet into its main app.

Telegram launched its built-in cryptocurrency wallet for US users on July 22, 2025. The messaging app now lets its 87 million American users send, receive, and manage digital money without downloading separate apps or creating new accounts.

How the Wallet Works

The wallet runs on The Open Network (TON) blockchain, which was originally created by Telegram’s founders before regulatory issues forced them to step away in 2020. Independent developers continued building the network, and now Telegram has partnered with The Open Platform (TOP) to bring the wallet to users.

Unlike traditional crypto wallets that require users to remember complex seed phrases, TON Wallet uses a split-key system. One part connects to the user’s Telegram account, while the other links to their email address. “No need to download the wallet, no need to remember the seed phrase,” said Andrew Rogozov, CEO of The Open Platform.

Users keep full control of their private keys, meaning they own their cryptocurrency directly rather than trusting a company to hold it for them. The wallet supports several features including token swaps, staking to earn rewards, and zero-fee purchases through a partnership with payment processor MoonPay.

Global Success Drives US Launch

The wallet already proved popular overseas. More than 100 million users globally activated their TON wallets in 2024 across markets in Asia and Europe. That represents about 10% of Telegram’s total 1 billion users worldwide.

The company delayed the US launch due to regulatory concerns. American financial watchdogs have taken a tough stance on cryptocurrency projects in recent years. Telegram faced this directly when the Securities and Exchange Commission forced the company to abandon its original TON token project in 2020 and pay an $18.5 million fine.

Shifting sentiment over the past year has made US market more appealing. The company avoided potential legal issues by partnering with licensed providers like MoonPay for services that convert between cryptocurrency and regular dollars.

U.S. builders — this is your momentSource: @rogozov

Strong Financial Backing

The timing coincides with major investment in the wallet’s development. The Open Platform, which builds the wallet technology, raised $28.5 million in July 2025 in a funding round led by Ribbit Capital. The investment values the company at $1 billion, making it the first “unicorn” startup in Telegram’s crypto ecosystem.

Ribbit Capital also invested in other major fintech companies including Robinhood and Coinbase. Pantera Capital, a prominent crypto investment firm, joined the funding round as well. The money will help The Open Platform expand into the US and European markets while meeting regulatory requirements.

Competition with Established Players

The launch puts Telegram in direct competition with existing crypto platforms like Coinbase and Cash App. However, Telegram starts with a major advantage: it already has millions of active users who spend time on the platform daily.

Max Crown, CEO of the TON Foundation, called the US launch “a major milestone in bringing decentralized finance into everyday life.” The integration removes barriers that have kept regular people away from crypto by offering access through an app they already use.

The wallet connects to Telegram’s Mini Apps ecosystem, which includes games, trading tools, and marketplaces. Popular crypto games like Hamster Kombat have attracted hundreds of millions of players through Telegram, showing the platform’s potential reach.

The TON blockchain processes about 334,000 transactions per day and offers fast, low-cost transfers that work well for small payments and social interactions. This technical foundation supports the wallet’s goal of making crypto transactions as simple as sending text messages.

What This Means for Crypto Adoption

Industry experts see the launch as potentially significant for bringing cryptocurrency to mainstream users. Unlike dedicated crypto apps that attract mainly enthusiasts, Telegram reaches people who may have never used digital money before.

The wallet’s success could pressure other major platforms to add similar features. Social media companies and messaging apps have experimented with payments before, but none have launched a full self-custody crypto wallet at this scale in the US market.

However, challenges remain. Crypto regulations continue evolving, and technical issues or security problems could hurt user confidence. The TON ecosystem also faces questions about long-term sustainability, with some metrics showing declining activity despite user growth.

The Road Ahead

Telegram’s crypto wallet represents a test case for whether mainstream platforms can successfully integrate digital money into everyday communication. The company’s approach of partnering with regulated providers while maintaining user control over funds offers a middle path between full decentralization and traditional financial services.

The wallet’s performance in the US market will likely influence how other major tech companies approach cryptocurrency integration. With 87 million American users now having direct access to crypto through their messaging app, the next few months will show whether this model can drive broader adoption of digital assets.