Telegram Unveils Native Gram Wallet: A Major Leap in Non-Custodial Crypto Management
Telegram has started rolling out its native Gram Wallet, allowing users to hold and manage their own cryptocurrency directly within the app. This move marks a significant shift in Telegram's financial features, positioning it as a major player in the non-custodial wallet space.
The rollout is happening in two stages, with a limited group of users already having access to the wallet. As more users gain access, Gram Wallet will become the default self-custody option within Telegram's settings menu, while the app's trading hub, Walt, will remain a separate entity.
According to Telegram CEO Pavel Durov, validators have approved the smart contract powering the wallet, ensuring that future upgrades won't require users to migrate to new wallet contracts. This is seen as a significant advantage over other wallets, which often require users to update their software or risk losing access to their funds.
The separation of Gram Wallet from Walt, Telegram's trading hub, was done to avoid regulatory hurdles in Europe. By keeping self-custody and trading under separate roofs, Telegram can now comply with the European Union's Markets in Crypto-Assets (MiCA) framework without facing the regulatory disputes that have plagued other platforms.