Popular messaging app Telegram has finally released a cryptocurrency wallet, nearly three years after first announcing plans to build a Web3 ecosystem. The TON wallet launched at the Token2049 event in Singapore.

Significantly, the wallet is developed on the TON blockchain, marking it as Telegram's endorsed network. TON token prices spiked 7% on the news to over $5.40.

The integration provides TON's 800+ million Telegram users worldwide access to crypto wallets. TON projects will also get priority advertising on Telegram's platform.

Global rollout begins in November, excluding the US and certain countries. The long-awaited move cements TON's status as Telegram's blockchain of choice for expanding into Web3.

After the abandonment of the Telegram Open Network project in 2020 due to SEC opposition, TON has carried on as an open-source effort while retaining close ties with Telegram.

The recent native wallet integration signals deepening synergies. For TON developers, direct exposure to Telegram's vast user base is a major boost as well.

With crypto adoption surging, integrating wallets enables Telegram to meet demand while potentially boosting its own ecosystem. The wallet launch highlights TON's pole position to power Telegram's Web3 plans.