Telegram to allow users to trade and store crypto

Pavel Durov, Telegram’s founder and CEO, said that their next step is to build decentralized tools that will allow users to securely trade and store crypto.

Commenting on the FTX’s bankruptcy, Durov noted that the next step in the development of Telegram will be the implementation of decentralized tools, including non-custodial wallets and decentralized exchanges. These tools will allow users to safely trade cryptocurrencies and store them.

According to Durov, the blockchain industry was originally built around the promise of decentralization, but then it ended up in the hands of a narrow circle of people who began to abuse their power. As a result, many people lost their money when FTX crashed.

Durov also added that this solution will help to get rid of errors that occurred due to excessive centralization. According to him, it is necessary to create easy-to-use and fast decentralized applications so that investors do not have to rely on a third party when selling and buying crypto.

The new tools will be based on the TON blockchain.

Durov also said that at the Fragment auction platform, names for personal accounts and communities worth about $50 million have already been sold in less than a month. He said that soon it will be possible to trade not only usernames on this platform.