SafePal Integrates Support for The Open Network (TON) 

SafePal, one of the leading crypto wallet developers, has integrated support for The Open Network (TON). TON was initially created by the Telegram team but later transitioned to an autonomous and fully open-source project after a U.S court halted its development back in 2020. 

Following the integration with TON, SafePal users will now be able to store and send the native $TON token within their hardware and software wallets. Additionally, it will be possible to directly interact with the Decentralized Applications (DApps) that currently exist on the TON blockchain. Later on, SafePal will further extend the support for $TON within its extension wallet as well. 

This strategic partnership also features a grant provision by TON that will be geared towards enhancing the open-source infrastructures. Both SafePal and TON have committed to building a secure, open, transparent and interoperable network in preparation for the next phase of blockchain adoption. 

“We are happy to onboard SafePal as the first hardware solution on TON. Furthermore, we are excited about the prospects of SafePal and their journey to open-source, as this builds greater trust and resilience for the safekeeping of assets.” said Justin Hyun, Head of Incubation at TON Foundation.

Notably, the integration comes at a time when most crypto natives are looking for non-custodial storage solutions in the aftermath of FTX’s collapse. A niche that SafePal has specialized in since its debut in 2018; this wallet provider offers several crypto management solutions, including storage, swapping and asset management. 

As a result of the growing demand, SafePal’s hardware wallet sales have increased significantly, with the platform’s native token $SFP also on steady growth curve over the past two weeks. 

The team is currently planning to launch an open-source wallet program, allowing third-party developers to leverage its hardware wallet infrastructure which includes the SafePal mobile app, browser extension, and communication protocol. 

On the other hand, the interest in TON’s ecosystem is also at an all-time high, the project recently partnered with DWF Labs which committed to invest $10 million. In addition, Telegram has launched a marketplace for auctioning tokenized usernames and channels on the TON blockchain, with $TON acting as the native transaction currency. 

As of writing, $TON’s value is up by almost 50% within the past two weeks; the ecosystem’s fundamentals are also growing stronger, with STON.fi emerging as the pioneer DEX on TON. This upcoming DEX has already been integrated into DeFi Llama’s tracking system.