Telegram Has Prohibited The Creation of Cryptocurrency Applications On Blockchains Other Than TON
On 21 January, Telegram and the TON Foundation announced an exclusive agreement that commits embedded Web3 applications to exclusively use The Open Network.The goal of the partnership is to maintain a scalable and secure user experience. According to TON Foundation President Manuel Stotz, existing wallet protocols for third-party networks will be banned, except for applications with cross-chain functionality.“The new exclusivity agreement deepens the technological ties between TON and Telegram,” the announcement notes.For projects that migrate to the TON networkwithin 30 days, the TON Foundation will award grants of up to $50,000 depending on audience size. The bonuses do not apply to projects that have previously received funding from the foundation.Recall that in June 2024, Telegram launched an internal currency Telegram Stars to pay for digital services in the ecosystem. In November, the messenger presented a large-scale update for mini-apps.Earlier, TON developers announced plans to expand operations in the US.ENRICH your inbox with our best storiesDon’t miss out and join our newsletter to get the latest, well-curated news from the crypto world!