Wallet in Telegram Expands Crypto Services with 50 New Tokens and Earn Feature

Wallet in Telegram, a third-party cryptocurrency wallet Mini App on Telegram, is set to expand its custodial crypto services by adding at least 50 new cryptocurrencies and launching an earn feature for users. The Open Platform (TOP), which manages Wallet in Telegram as one of its portfolio businesses, announced the rollout of the next wallet generation on March 13, introducing a wide range of new features.

The new generation of Wallet in Telegram will support a diverse range of crypto assets, including major cryptocurrencies such as Ether (ETH) and XRP (XRP), as well as memecoins like Dogecoin (DOGE) and Pepe (PEPE). This expansion is aimed at catering to the growing demand for diverse cryptocurrency options and providing users with more opportunities to explore different investment strategies.

Initially, Wallet users will be able to buy, sell, and hold non-TON tokens within the app, but onchain deposits or withdrawals will not be allowed. This means that altcoin transactions to other wallets and exchanges will not be permitted during the initial rollout. The spokesperson for Wallet emphasized that the current stage focuses primarily on the TON Ecosystem, maintaining full operations for TON-native tokens within the custodial wallet. However, there is consumer interest in expanding the portfolio with other assets, and the wallet aims to provide this option in trade-only mode.

The list of tokens is not final yet, as it will be rolling out gradually within 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, and the wallet plans to expand the earn offering to more altcoins and stablecoins, including Tether’s USDt (USDT).

The launch of the yield program is a significant addition to the wallet's features, as it provides users with a passive income stream. This is particularly appealing to users who are looking to grow their cryptocurrency holdings without actively trading. The program is designed to be accessible to all users, regardless of their level of experience or the size of their holdings. This inclusivity is expected to attract a wider range of users, including those who are new to cryptocurrency and those who are looking for a more passive investment strategy.

The redesign of the wallet interface is another important aspect of this update. The new navigation bar at the bottom of the screen makes it easier for users to access different features of the wallet. This improved user experience is expected to attract more users and encourage existing users to engage more frequently with the platform. The redesign also reflects the wallet's commitment to continuous improvement and innovation, which is likely to enhance its reputation and attractiveness to users.

In summary, the Telegram wallet's update to support 50 tokens and launch a yield program is a significant development in the cryptocurrency space. This update enhances the wallet's multi-asset trading capabilities, provides users with passive income opportunities, and improves the overall user experience. These changes are expected to attract a wider range of users and position the wallet as a leading player in the cryptocurrency market.