Wallet Crypto Trading Bot Debuts Globally on Telegram, Targeting Developing Markets First
Summary:
The Wallet trading bot, designed for cryptocurrency transactions, is ready to globally debut on the Telegram app in several Latin American and African countries. Now, users in Colombia, South Africa, and Kenya can access Wallet's features within their Telegram settings. This eliminates the need to manually search for the bot or have prior knowledge about cryptocurrency. The launch is part of TOP's strategy to help users access more financial tools in developing markets. Plans for expanding to Saudi Arabia, Nigeria, and Turkey by Q1 2024 have also been shared.
The Wallet trading bot, a tool for buying and selling cryptocurrency, is set to make a worldwide debut on the Telegram messaging app within various Latin American and African nations. This milestone development was revealed on November 10th by the Open Platform (TOP), an investment entity based in Dubai and associated with TOP Labs and Wallet. Now, Telegram users within countries such as Kenya, South Africa, and Colombia can easily access Wallet's features via their Telegram settings. Prior to this, the Wallet bot was globally accessible, though users had to manually search for "@Wallet" on Telegram to find it. Following this recent addition, users will now see Wallet directly in their menu, diminishing the need for cryptocurrency knowledge or searching for the bot.
Aside from the in-built custodial wallet, users are granted the choice to use Wallet’s independent crypto solution aptly named TON Space. Here users can execute decentralized swaps and transfer non-fungible tokens (NFTs). Parent company TOP opted to launch Wallet in these developing markets to better aid individuals in gaining access to additional financial tools, benefiting a large user base in these areas. TOP's representative expressed that the focus was on developing markets where there was an inherent demand for crypto assets due to the unavailability of financial tools. They also cited Telegram's popularity within these regions as a reasonable place to kickstart their global release.
Reporting by World Population Review shows that as of 2023, Colombia boasts an impressive Telegram user base of 4.49 million. According to Statista, Kenya and South Africa's internet users were using Telegram by half during Q3, 2022. TOP's representative further discussed the regions, stating that countries like Nigeria, Kenya, and Colombia have a highly active Telegram userbase accompanied by a high rate of crypto adoption. Viewing this promising landscape, TOP plans to introduce Wallet bot to all users in these regions, providing an opportunity to bring a large audience into the Wallet fold. This is just the genesis of a broader mission to expedite the common market adoption of TON-based blockchain technology, the representative added. The representative also shed light on the company's strategy to debut the Wallet in smaller nations first before escalating the operational and technical integrations for smooth scaling with the rollout’s advancement.
Looking ahead, expect Wallet crypto bot to penetrate markets in Saudi Arabia, Nigeria, and Turkey in the first quarter of 2024. TOP aims for completion of Wallet’s worldwide rollout on Telegram by the end of the second quarter of 2024. TOP's CEO, Andrew Rogozov, insists these progressive amendments to the Wallet and TON underscore their persistent commitment to simplifying the crypto experience for general audiences while maintaining potent security features.
A significant point to note is that despite Wallet's access to Telegram settings, the messaging app denies any link with the Wallet or TOP. Also, Wallet insisted on its independent operation. It is noteworthy that CEO of both TOP and Wallet, Andrew Rogozov, was once at the helm of VK.com, a popular social media site developed by Telegram founder Pavel Durov. Rogozov left VK.com in January 2022 to join the TON Foundation as a founder member, later establishing First Stage Labs, ultimately leading to a merger with Wallet and a consequent rebranding to TOP.
Published At
11/10/2023 11:44:27 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.