Telegram has launched its self-custodial Gram wallet as the default option for users, while its broader crypto platform, Wallet in Telegram, has been rebranded as Walt. The move signifies a strategic shift in Telegram's crypto ecosystem.
This strategic shift centralizes transactional crypto functions within Telegram's native wallet while expanding the capabilities of its broader financial platform, potentially increasing crypto adoption and utility for its over one billion users.
Telegram is restructuring its cryptocurrency offerings with the introduction of its self-custodial Gram wallet as the default service and the rebranding of its existing platform, Wallet in Telegram, to Walt.
The new Gram wallet is designed to facilitate payments, transfers, and purchases directly within the Telegram app, including items like usernames and digital collectibles. This self-custodial solution aims to centralize everyday transactions on the platform.
Concurrently, Wallet in Telegram has been rebranded as Walt, signaling an expansion beyond its initial function as a simple wallet for Gram (formerly Toncoin). Walt will now provide a comprehensive suite of crypto services, including trading for over 200 assets, support for more than 300 cryptocurrencies across four blockchains, and offerings such as tokenized stocks, ETFs, metals, yield services, and perpetual futures trading.
While Gram wallet will serve as the primary transaction layer, it will remain connected to Walt, enabling users to deposit various cryptocurrencies into their Gram wallet. The strategic split aims to position the native Gram wallet at the core of transactional activities while establishing Walt as a broader financial platform. Telegram founder Pavel Durov had previously announced plans to integrate a non-custodial wallet into every Telegram app.