Telegram messenger has significantly boosted global crypto adoption by offering cryptocurrency-integrated Mini Apps and supporting various types of crypto wallets, allowing users to access digital assets directly within the platform.
While some industry observers said Telegram could be the key to reaching the first billion crypto users, the messenger is not seen as a competitor or a threat to conventional crypto entry points like web browsers.
Browsers like Apple’s Safari have taken a cautious approach to adopting crypto features, while crypto-friendly platforms like Brave and Opera continue to thrive.
Google’s Chrome browser had a 64.61% market share in October 2024. Source: SimilarWeb
Google’s Chrome — the world’s most popular web browser — has not limited crypto extensions and other related tools on its browser, Jorgen Arnesen, executive vice president of Mobile at Opera, told Cointelegraph.
Brave doesn’t see Telegram as a competitor
Telegram-linked blockchain platform, The Open Network (TON), saw significant growth in 2024, with Mini Apps like Notcoin and Hamster Kombat introducing many users to cryptocurrency.
Telegram also supports various types of crypto wallets, offering both self-custodial and custodial wallet solutions for holding cryptocurrencies like Bitcoin (BTC) directly within the app.
Top five Telegram app coins by market capitalization. Source: CoinGecko
“As a major hub for crypto communication, we see the adoption of crypto on Telegram as a natural fit,” Brave’s vice president of business operations, Luke Mulks, told Cointelegraph.
Telegram’s crypto rise shows the demand for crypto and extra opportunities for use cases among more mainstream users, but he said this doesn’t pose a threat or competition to browsers.
Many of Telegram’s crypto features, such as an integrated wallet and opportunities for users to earn, have been available in Brave for several years, Mulks noted, adding:
“We don’t see browsers as being left behind. The browser is the gateway to the web, including Web3. Our focus has been from a higher level, how we can integrate stronger security and Web3 use cases into the Web2 world.”
Web-based crypto adoption is strong
Opera’s Arnesen shared a similar perspective on Telegram’s crypto adoption versus adoption through web browsers.
“While Telegram’s TON blockchain and projects like Hamster and Notcoin have undeniably made waves, we believe that web-based crypto adoption is poised to outpace even these impressive strides,” he said.
Related: Telegram’s crypto holdings rose to $1.3B in H1 2024: Report
Chrome browser, which has 3.45 billion users in 2024, has also “fostered a thriving ecosystem of crypto extensions and tools, empowering users to interact with crypto directly within their browser,” Arnesen added.
TON ecosystem expands beyond Telegram
Although Telegram is home to the TON ecosystem, the TON Foundation doesn’t see Telegram as the exclusive platform for its engagement, TON Foundation ecosystem lead Alena Shmalko told Cointelegraph.
“Telegram is just one distribution channel for TON-based projects, although it’s a very big one with over 950 million users,” Shmalko said, adding:
“We’re working around the clock to foster a decentralized ecosystem where the most exciting Web3 products on TON are accessible through whichever method the end-user wants to engage with most — whether that’s as a web app, a Telegram Mini App, or even as a Chrome extension.”
While the TON Foundation is working to expand TON’s reach beyond Telegram, the messenger’s founder and CEO, Pavel Durov, remains under investigation in France.
With French prosecutors accusing Durov of facilitating a platform that enables “illicit transactions,” Telegram’s founder faces up to 10 years of prison time.
Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex