Wallet in Telegram Expands Its Custodial Crypto Services

Wallet in Telegram, a third-party cryptocurrency wallet Mini App on Telegram, is set to expand its custodial crypto services

Telegram is set to expand its custodial crypto services with the addition of at least 50 new cryptocurrencies and an earn feature, according to a March 13 announcement by Open Platform (TOP).

The largest venture builder in the Open Network (TON) ecosystem, which manages Telegram’s third-party cryptocurrency wallet Mini App as one of its portfolio businesses, is rolling out the next generation of the wallet with a wide range of new features.

Among the new additions to the wallet is support for at least 50 new crypto assets, including major cryptocurrencies Ether (ETH) and XRP (XRP), as well as memecoins like Dogecoin (DOGE) and Pepe (PEPE), a spokesperson for the wallet clarified to Cointelegraph.

The new generation of the wallet, which is set to be rolled out within the next two months, will also introduce an “Earn” feature, which will allow users to gain yields on assets including Tether’s USDt (USDT).

The announcement adds that the initial rollout of the new-generation wallet will be limited to in-app transactions for non-TON tokens, meaning that users will not be able to perform onchain deposits or withdrawals.

“The current stage of the rollout is only available for in-app transactions for non-TON tokens,” the spokesperson said, adding that the altcoin option will only be available for trading within the custodial wallet.

The spokesperson further noted that the list of tokens is not yet final and will be rolling out gradually over the next two months. The first release will feature 50 assets, with a full list now being finalized.

In addition to expanding the wallet with a large number of altcoins, TOP is working to introduce the new “Trade” section and the “Earn” section.

Starting with Toncoin (TON), the first Earn campaign will provide a “flexible yield” on TON deposits, with a minimum deposit amount of 0.1 TON.

“The yield is generated from TON staking,” the spokesperson for the wallet said.

Along with Toncoin, the company plans to expand the earn offering to more altcoins and stablecoins, including Tether’s USDt (USDT), the announcement stated.