Telegram is Planning to Build a Crypto Exchange and Non-Custodial Wallets
Kremlin & FSB Affiliated CEO of Telegram Pavel Durov is Going All in on Crypto
Kremlin affiliated CEO of Telegram, Pavel Durov, is launching his own cryptocurrency exchange within the Telegram app. Telegram is one of the most underrated private instant messaging apps. It is free to use & offers a fast & secure platform with end-to-end encryption. The platform offers not just the features to send & receive messages, but also a wide array of features.
One such feature is the Telegram bot feature. It allows users to automate tasks for various tasks, including creating to-do lists, getting weather updates, & getting automated alerts while tracking a particular wallet address. These bots are automated by programs & can be customized as per the user’s needs.
Telegram is gradually making its way into the cryptocurrency realm. It had added support for cryptocurrency payments, according to a tweet from the TON (Telegram Open Network) Foundation, in April. The TON token can be used to make cryptocurrency payments on Telegram.
The 550 million users of Telegram have now been exposed to blockchain technology and cryptocurrencies, thanks to the initiative. However, new announcements have surfaced about the instant messaging app. It is now planning to launch a non-custodial wallet and a decentralized cryptocurrency exchange.
The collapse of FTX shows that blockchain projects must return to decentralization, the CEO of Telegram said.
Pavel Durov announced that the messaging app is planning to build crypto exchanges and other decentralized tools.
"The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power."
As the FTX collapse continues to reverberate through the cryptocurrency sector, Telegram CEO Pavel Durov wants to revive some of the good will toward blockchain technology by developing a range of decentralized tools including digital asset exchanges. And what Pavel Durov is currently doing with Telegram is making intelligence agencies across the world fear that they won’t be able to dip their paws into this project. Durov stresses that this move is to give the power back to the people & away from the hands of big government. It’s safe to say he’s raised the eyebrows of every intelligence agency from MI6 to Mossad to the CIA.
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