Social app Telegram has today launched its native, non-custodial, peer-to-peer Gram Wallet and rebranded its “Wallet in Telegram” trading hub as “Walt.”
According to the announcement, the wallet enables instant peer-to-peer transactions within chats at zero fees and without demanding Know Your Customer (KYC) verification. Transactions include GRAM token transfers, payments, and ecosystem purchases such as usernames, gifts, and premium phone numbers.
Gram wallet rollout is happening in two phases: The initial stage has granted access to a select and limited number of users, while the second and more robust stage will gradually open the wallet to Telegram’s 1 billion+ global users over the next few weeks.
The second announcement focused on the renaming of the “Wallet in Telegram” bot (@wallet) into “Walt”. This multi-chain financial ecosystem enables trading for over 200 assets across 4 blockchains. Its offerings include over 300 crypto tokens, tokenized stocks, ETFs, yield-earning programs, and perpetual futures trading.
Importantly, Telegram conducted the name change to clearly separate the wallet and social space from the trading hub. This, in addition to the wallet’s non-custodial features, caters to Europe’s MiCA requirements, eliminating regulatory battles.
Gram Wallet will henceforth operate as the default self-custodial service in the app’s settings, while Walt will be accessible via the search bar. To access the services of both, users can manually check if their account has been activated using the methods mentioned above.
Notably, these events are part of Telegram CEO Pavel Durov’s initiative dubbed “Make TON Great Again” (MTONGA). Its 7-step roadmap is aimed at turning the network into Telegram’s primary application and financial layer.
One of these steps was executed back in June, when the TON community successfully transformed the TON network into gram (GRAM). This reinstated the token’s original identity, which it had been forced to strip after a settlement with the US Securities and Exchange Commission (SEC).
Following the news, GRAM gained 3.67% in the day to trade at $1.40, but its monthly gains remain far below Bitcoin’s (26%) at 1.08%.
Source: CoinPedia
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