Telegram Prohibits Development of Cryptocurrency Apps on Platforms Apart from TON Network
In a major move towards embracing blockchain technology, Telegram has partnered with the TON blockchain, marking a significant step in the platform's Web3 strategy. The exclusive agreement, announced in 2023, has positioned TON as Telegram's exclusive blockchain platform.
As part of this partnership, Telegram has introduced an internal token, Telegram Stars, for digital service fees within its ecosystem. Existing wallet protocols for other blockchains will be disallowed, unless they offer cross-chain compatibility. However, projects migrating to TON within 30 days may receive grants up to $50,000, based on their audience size.
The TON blockchain, originally launched by Telegram but later revived as an independent project with Telegram's endorsement, is now pursuing global ambitions and ecosystem development. Key recent developments include an exclusive partnership with Telegram, making TOP, founded by a key developer associated with TON, the principal infrastructure provider on TON. TOP designs and maintains numerous core applications embedded both inside and outside of Telegram, such as the "Wallet in Telegram" — an integrated crypto wallet that enables users outside the US and Europe to access Toncoin and blockchain services directly within the Telegram app.
TON's ecosystem now includes decentralized exchanges, NFT platforms, decentralized storage, and tap-to-earn games. TOP is also fostering innovation within gaming and AI sectors on TON, funded by a recent $28.5 million Series A round, which valued the company at $1 billion and marked it as TON’s first unicorn.
Recent institutional investment has also validated TON's prospects, with major firms such as Sequoia and Benchmark acquiring approximately $400 million worth of Toncoin. The partnership aims to provide a scalable and secure user experience, with TON's global growth plans including incubating new projects, particularly those leveraging Toncoin as the default currency within Telegram's ecosystem and beyond, fueling extensive Web3 app development.
The partnership strengthens TON's position as one of the world's leading blockchains, as stated by TON Foundation President Manuel Stotz. Earlier, TON developers announced plans to expand their operations in the U.S. In November 2024, Telegram released a major update for mini-apps, further solidifying its commitment to blockchain integration.
[References: 2 - Unnamed sources]
Telegram's partnership with TON blockchain has resulted in the introduction of an internal token, Telegram Stars, which will be used for digital service fees within the Telegram ecosystem. This migration towards TON marks a significant shift in the platform's blockchain technology usage, positioning it as a critical component in Telegram's Web3 strategy.
