Telegram Wallet avoided self-custody to ease crypto onboarding, COO says
As Telegram prepares to roll out Telegram Wallet as a native setting on the messenger in November, it’s important to understand why Wallet opted for custody over self-custody. Telegram Wallet, a major Telegram bot allowing users to buy and sell crypto currencies like Bitcoin (BTC), has chosen custody over self -custody to chase easier onboarding goals, according to a senior executive. In July 2023, crypto-friendly Telegram messenger officially announced the integration of the custodial crypto wallet, Telegram Wallet, to allow users to access the wallet directly from the messenger’s settings. Though Telegram has enabled existing Wallet users to see the wallet bot directly in the messenger, those who have never used the bot are still not seeing the crypto wallet in their settings section of the messenger. According to Telegram Wallet chief operating officer Halil Mirakhmed, the full Wallet rollout is expected to begin sometime in November 2023, starting with “several African and Lati...