Telegram founder Pavel Durov says a non-custodial Gram wallet will ship this summer with zero-fee transactions, reaching over a billion users. Gram rose 8% on the news.
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Pavel Durov said Telegram will build a non-custodial Gram wallet into its app this summer, promising zero-fee transactions to a user base that has surpassed one billion.
Durov made the pledge Tuesday in a post on his Telegram channel. “This summer will see the largest rollout of a non-custodial crypto wallet in human history,” he wrote. “Instant zero-fee crypto transactions for over a billion users are about to become reality.”
Gram rose over 8% after the post from about $1.4362 to $1.5554, before paring some gains to trade at $1.5203.
The push builds on Durov’s longer effort to embed crypto in Telegram. The Open Network’s token, Toncoin, rebranded to Gram last month after Telegram took over the network’s development in May. Telegram already runs an in-app self-custody wallet called Wallet, which reported more than 150 million users earlier this year.
The plan revives an ambition Telegram first chased in 2018, when it launched the TON project and sold Gram tokens to investors. The Securities and Exchange Commission later sued Telegram, forcing it to halt the sale for violating U.S. securities law.
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