Telegram's Gram Wallet Rollout Sparks Price Rebound for GRAM

Telegram has started rolling out its self-custodial Gram Wallet to selected users, prompting a price rebound for GRAM to $1.40.

The wallet is built into the messaging app and allows users to control their assets directly without relying on a centralized service provider.

The release follows an announcement in July by Telegram CEO Pavel Durov that the company would bring a native, non-custodial wallet to every version of its app.

According to Durov, the network validators approved the smart contract that powers the wallet before the rollout began. The design allows developers to upgrade the product without forcing users to transfer their holdings to a replacement contract.