Telegram CEO Announces Crypto Plans
Telegram CEO Pavel Durov said that they want to create a crypto wallet and a decentralized exchange.
The famous messaging application wants to take a more active role in the cryptocurrency sector.
Telegram Will Be More Active in the Industry
The app recently managed to sell $50 million worth of usernames in less than a month through blockchain-based auction platform Fragment.
Fragment was a project that Durov abandoned in 2020 due to regulatory pressure. The project was built on top of the Telegram Open Network.Powered by the good sales on the fragment, Durov wants to take Telegram’s crypto ambitions even further. The CEO said that the company will create a decentralized stock exchange (DEX) and crypto wallets that will be able to reach millions of users.
Telegram currently stands out as a messaging application that crypto traders use extensively.
Durov had previously stated that he was happy to watch the blockchain development work.
Durov also highlighted the collapse of FTX, saying the following about the work of DEX:
“Cryptocurrency users should switch to wallets that do not trust any third parties and are self-custodial”