Telegram is planning to build Crypto Wallets, Decentralized Exchange

Cloud-based messaging app Telegram has unveiled plans to focus on the essentials of the crypto market: decentralization. The new products are aimed at placing more decentralization in users’ hands.

The messaging app has sold $50 million in usernames in less than a month through its blockchain-based auction platform, Fragment, according to CEO Pavel Durov.

The figure speaks to the success of Telegram’s second go-around at bootstrapping its own crypto infrastructure. Fragment is built atop the Telegram Open Network (TON), a blockchain the CEO, Durov, abandoned under regulatory pressure in 2020 and later returned to after its community kept it alive.

Telegram is a free chat program that offers many advantages in terms of privacy, security, and ease of use for many people throughout the world.