Telegram Unveils Non-Custodial Wallet Plans, GRAM Surges on News

Telegram is planning to launch a non-custodial crypto wallet by this summer. The announcement, made by founder Pavel Durov on his Telegram channel, has sent the price of GRAM (formerly Toncoin) soaring over 10%, although it has since corrected to a gain of almost 7% in the past 24 hours.

The new wallet will be integrated into the Telegram app and offer free transactions, although Durov did not specify how this would work. It is unclear whether Telegram will subsidize transaction fees or if the wallet will use a different mechanism to achieve this goal.

This move marks the latest development in Telegram's push to integrate crypto into its functionality. The messaging platform has over 1 billion users and already has a native, custodial crypto wallet called Wallet, which has over 150 million users.