#HashKeyGroup , the operator of one of Hong Kong's two licensed #cryptocurrency exchanges, is joining forces with the operator of Telegram Messenger's #blockchain to facilitate the exchange of Toncoins for cash. This partnership, focusing on users in the Asia-Pacific region, will also involve collaborative efforts on new ecosystem projects, mentorship, and networking opportunities, according to the #TON Foundation.

Following Telegram's abandonment of the blockchain due to a settlement with the US Securities and Futures Commission in 2020, the TON Foundation was established to continue developing the blockchain. Despite regulatory challenges, TON remains closely tied to Telegram, leveraging its massive user base for adoption.

TON's blockchain integration with Telegram allows for the creation of mini apps, with TON Foundation ensuring premium visibility within the app as the default wallet option. Despite regulatory restrictions in certain jurisdictions, TON sees potential in Asia, where super apps like Line, #Kakao , and WeChat are popular.

The collaboration with HashKey Group marks a strategic move for TON's expansion, particularly in facilitating conversions between tokens and cash. For HashKey, this partnership complements its recent efforts to expand globally, including launching a global crypto exchange and obtaining upgraded licensing from Hong Kong's Securities and Futures Commission.

By teaming up with the TON Foundation, HashKey aims to leverage the potential popularity of Toncoin through Telegram's extensive user base, potentially positioning itself as a key player in facilitating cryptocurrency transactions across Asia - SCMP