The cryptocurrency trading bot, Wallet, is making its debut on the global stage with a rollout on the popular Telegram messenger app in Latin America and Africa. This expansion is part of the Open Platform (TOP), which is headquartered in Dubai and is affiliated with TOP Labs and Wallet. The announcement of the global rollout of the Wallet crypto bot was made on November 10, marking an important milestone for the platform.
Previously, Wallet has been accessible to global users for several months, but they were required to find the bot by clicking “@Wallet” on Telegram. However, with the latest update, users can now find Wallet directly on the Telegram settings menu, without needing to search for the bot or have an extensive knowledge of crypto to start using it.
The Wallet crypto bot allows users to buy and sell crypto, and it is now available on the Telegram settings menu for users in Colombia, South Africa, and Kenya. In addition to the default custodial wallet, users can also use Wallet’s self-custody crypto solution called TON Space. This feature allows users to perform decentralized swaps within TON Space and transfer nonfungible tokens (NFTs) using the self-custody wallet.
The decision to start the Wallet global rollout in developing markets reflects a strategic move to help users gain access to more financial tools, especially in regions where there is a significant demand for crypto assets and a lack of accessible financial tools. This aligns with the mission of TOP to provide financial solutions to underserved markets globally.
Data from World Population Review and Statista highlight the active user base of Telegram in the target regions. Countries like Nigeria, Kenya, and Colombia have a very active Telegram user base, with a relatively high rate of crypto adoption. This creates a huge opportunity to onboard a massive audience to Wallet and reflects the potential for mass market adoption of TON-based blockchain technology.
The initial rollout in Latin America and Africa is just the beginning, as the Wallet crypto bot is expected to launch in Saudi Arabia, Nigeria, and Turkey in the first quarter of 2024. The overall global rollout of Wallet on Telegram is expected to be finalized by the end of the second quarter of 2024.
The plan to launch in smaller countries first before scaling operations and technical integration demonstrates a careful and strategic approach to address the potential demands generated by the rollout. This sets the stage for a seamless and efficient expansion of the product.
Additionally, the Wallet crypto bot’s CEO, Andrew Rogozov, emphasized that the company is dedicated to simplifying the crypto experience for mainstream audiences while maintaining robust security features. This dedication reflects the commitment to providing a user-friendly and secure platform for trading and managing cryptocurrencies.
Despite the Wallet bot entering the Telegram settings menu, it’s important to note that Telegram has actively denied any affiliation with Wallet or TOP. Likewise, the Wallet bot has stressed that it operates independently from Telegram.
The CEO, Andrew Rogozov, has a strong background in social media and technology, having been the CEO of VK.com, a major social media platform created by Pavel Durov, the founder of Telegram. Rogozov resigned from VK in January 2022 to join the TON Foundation as a founding member. He also founded First Stage Labs, which subsequently merged with Wallet and rebranded to TOP.
The expansion of the Wallet crypto bot to global markets represents a significant step forward for the platform and a positive development for users seeking accessible and secure ways to engage with cryptocurrencies. The rollout in developing markets and the strategic approach to expansion demonstrate the commitment to democratizing access to financial tools and crypto assets worldwide.