Integration of Mercuryo into Telegram Wallet Simplifies Crypto Transactions
Mercuryo, a payments infrastructure firm based in London, has launched its on-ramp services within Wallet, the cryptocurrency platform integrated into Telegram.
The collaboration facilitates Wallet users in purchasing digital currencies such as Bitcoin (BTC) and Toncoin (TON) using conventional currencies like the U.S. dollar or euro, as reported exclusively by crypto.news.
Wallet, a custodial crypto service embedded within Telegram, allows users to send, receive, and store digital currencies directly through the messaging app. The implementation of Mercuryo is anticipated to lower fees and streamline the conversion of fiat currency into crypto, addressing a significant hurdle for newcomers.
“Currently, Wallet in Telegram has a sole on-ramp provider, which is Mercuryo,” stated Andrew Rogozov, CEO of The Open Platform, in an interview with crypto.news. “We are exploring additional partnerships to broaden the number of countries where zero-fee on-ramps can be established. Wallet primarily serves for immediate transfers within Telegram – as effortless as sending a message. Essentially, Wallet presents an accessible and straightforward means of sending crypto to friends and family within Telegram.”
Rogozov further mentioned that many users are introduced to cryptocurrency through Telegram.
“Our user base now exceeds 100 million Telegram users, the majority utilizing Wallet as their entry point into the crypto realm,” Rogozov commented.
On-ramping is the process of converting traditional currency into cryptocurrency. Numerous platforms impose hefty fees for this service, making it costly for users to start. With the integration of Mercuryo, Wallet aims to offer a more affordable option.
Petr Kozyakov, CEO of Mercuryo, noted that this partnership aims to attract millions of new users to the cryptocurrency space.
“We expect a strong reception among Wallet’s expanding user base, as it serves as a model for onboarding millions of new users into cryptocurrency services,” Kozyakov remarked.
Direct access to crypto assets within Telegram
This collaboration supports a variety of digital assets, such as Bitcoin, Toncoin, and Jettons—a category of tokens utilized within Telegram’s ecosystem. Users can access these assets directly through Wallet without the need for an external exchange.
Telegram has been enhancing its cryptocurrency services in recent years, with The Open Network blockchain being pivotal in its strategy. Toncoin, the native token of this network, is among the leading layer-1 blockchain assets supported by Wallet.
The integration is in line with Wallet’s broader objective of making cryptocurrency more accessible on Telegram, which boasts over 900 million users.