Pavel Durov announced the largest rollout of non-custodial crypto wallets for 1B Telegram users, sending GRAM up 7.7%. The rollout is the latest step in restoring TON's original vision.
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Pavel Durov said Telegram will roll out native non-custodial cryptocurrency wallets to its more than 1 billion users, calling it the "largest rollout" of such a product. The move sent GRAM, the network's token, up 7.7% to $1.55.
The wallets will allow zero-fee transactions and give users full control of their private keys, Durov said. Telegram currently has a custodial wallet operated by third parties tied to the TON Foundation.
The announcement is the latest step toward restoring the original vision of the TON blockchain, which Durov and his brother Nikolai launched in 2018. Telegram withdrew from the project in 2020 after a dispute with the SEC. The technology has since been developed by an independent community.
Trading volume in GRAM more than doubled to $114 million in the past 24 hours, according to data from Benzinga Pro. The token had rebranded from Toncoin to Gram in June, when Telegram also became the network's largest validator.
Separately, T. Rowe Price Group Inc. is launching an actively managed cryptocurrency fund with exposure to Bitcoin, Ethereum, BNB, Solana, XRP and Hyperliquid, the fund manager said. The firm, which scored 78 on AlphaScala's Alpha Score, sees potential in on-chain finance and tokenization, rejecting the idea that tokenization is good but crypto is bad. The move reflects continued institutional interest in the crypto market.
GRAM traded at $1.55 as of Tuesday, up 7.7% in 24 hours.
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