Telegram founder Pavel Durov has unveiled plans for what could become one of the biggest cryptocurrency rollouts to date.
The extremely popular messaging platform will integrate a native non-custodial Gram wallet into every Telegram app this summer.
The launch would immediately expose more than a billion Telegram users to the advantages of self-custody. This would be one of the largest consumer-facing blockchain integrations ever attempted.
Self-custody at internet scale
Self-custody wallets operate without a third party controlling users' private keys. They make it possible for individuals to retain full control over their digital assets. That means users are responsible for securing their own recovery phrases and private keys without the need for an intermediary.
Durov claimed the wallet would enable "instant zero-fee crypto transactions". Additional technical details about the wallet and supported assets have yet to be released.
A long crypto journey
Telegram's long relationship with blockchain technology began in 2018. Back then, Telegram raised roughly $1.7 billion for its ambitious Telegram Open Network (TON) project and the Gram token. However, the initiative was halted after the U.S. Securities and Exchange Commission sued the company because it viewed the token sale as an unregistered securities offering.
Telegram ultimately abandoned the original TON project in 2020 as part of its settlement with the SEC.
Since then, development of the blockchain has continued independently under the TON Foundation. In the meantime, Telegram has expanded blockchain-related features across its ecosystem.
Embedding a native wallet directly into one of the world's largest messaging platforms could significantly reduce the friction associated with crypto adoption. If the rollout reaches Telegram's entire user base, it would represent one of the largest deployments of self-custody infrastructure.
Dan Burgin
U.Today Editorial Team
