SafePal Unveils New Telegram Crypto Wallet with Integrated Visa Card Support

On Nov 3, 2024

Self-custody crypto wallet provider SafePal has entered the Telegram crypto ecosystem.

SafePal is a cryptocurrency wallet provider offering secure hardware and software wallet solutions for managing digital assets. Known for its user-friendly interface and high security, SafePal supports a wide range of cryptocurrencies and has integrated features for easy storage, trading, and management of digital assets.

On 2 Nov 2024, the SafePal team launched a new Mini Wallet App, allowing Telegram’s 950 million users to create individually owned and compliant crypto-friendly Swiss bank accounts.

📢 Self-custodial cryptocurrency wallet @iSafePal launches Telegram crypto wallet with Visa card support. pic.twitter.com/BS7uVSmXo8
— BNB Swap (@BNBSwap) November 2, 2024

This app combines CeFi and DeFi models, marking it as the first Telegram Mini App that integrates centralized-decentralized finance (CeDeFi) principles, enabling transactions via a digital crypto Visa card.

SafePal CEO Veronica Wong shared her insights on this development, noting that the financial sector is shifting from protocol-focused applications to an application-focused Web3 ecosystem, and highlighted how developers can evolve to better serve communities.

SafePal CEO @V_SafePal shares her thoughts at The Gateway (TON) @ton_blockchain

Highlighting the shift from protocol-centered applications towards application-centered web3 ecosystem landscape and how builders can evolve to serve the communities better pic.twitter.com/jdNh7qcxYZ
— SafePal – Crypto Wallet (@iSafePal) November 2, 2024

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TON Blockchain & Crypto Adoption

Since its inception, the TON blockchain has faced controversy. Initially, Telegram launched the Telegram blockchain project, but due to legal challenges, they dropped the plan. Later, an independent team took over, and Telegram leadership provided an ecosystem for TON blockchain’s growth. Thus, while TON and Telegram are independent, they have strong support for each other.

With TON blockchain, 950 million Telegram users can access crypto services, such as trading and transactions. Regulatory pressure on the crypto sector has also led the TON community to introduce KYC requirements for users to access Wallet, a crypto wallet integrated into the Telegram app.

TON price action

The current trade price of $TON coin is $4.87 & this price level is 122% high over the last 12 months of the period.

The current trade price of Ton coin is $4.18 pic.twitter.com/75a7dkzcO8
— Bitcoinik (@Bitcoinikdotcom) November 3, 2024