Today, The Open Platform (TOP) has officially introduced the TON Space custodial wallet. The launch comes one month after Andrew Rogozov, CEO of TOP, announced new updates at the Gateway event in Dubai.

The launch signifies the conclusion of the beta development phase and the subsequent incremental introduction of the new self-custodial wallet platform. 

According to the announcement from TOP, TON Space’s development phase was characterized by remarkable growth.

In their official announcement, TOP assets, “The beta period saw more than 100 million Telegram users having used TON Space to create self-custodial wallets.” This makes a roughly 10% of the app’s total user base.

TON space advancement

Initially, the TON space was launched from a TON-based application in the telegram messenger. It was intended to provide users with complete control of their digital assets.

Developers were encouraged to use TON Space to develop applications that feature a user interface in Telegram and seamless blockchain integration with the TON Space wallet. 

TOP is a venture capital firm and venture builder that specializes in early-stage initiatives within the TON blockchain ecosystem.

It offered developers funding, resources, and expertise, thereby enabling them to create scalable Web3 products prepared for widespread adoption.

This provided a comprehensive solution for Web3 builders worldwide while simultaneously addressing the primary challenges of crypto adoption, including frictionless onboarding and audience access.

Using a unified interface, TON Space now provides users with the ability to effortlessly transition between custodial and non-custodial wallet options. Additionally, the updated platform boasts enhanced navigation, which is designed to facilitate the enrollment process for new users.

TOP CEO Andrew Rogozov said, “We aim to engage 30% of Telegram users in the TON ecosystem by 2028, and the launch of our self-custodial wallet is yet another milestone in our journey to achieve this goal.”

Moreover, the TON Foundation has most recently announced a partnership with HashKey. This is meant to support the “open network” and “increase access” to fiat on and off-ramps for Telegram wallet users in the Asia-Pacific Region.

🔄 New swap alert!@ton_blockchain's native coin $TON is now available to swap in Ledger Live!Swapping through Ledger Live is an easy & secure way to swap your crypto – learn more at: https://t.co/IeS84VyxKwHappy swapping! 🔄 pic.twitter.com/gBZ1mAIk6O

— Ledger (@Ledger) December 2, 2024

Andrew Rogozov reposted on his X account that the TON blockchain was available on Ledger. 

TON Space custodial wallet’s fresh features

TON Space will be introducing additional features like a dApp catalog, decentralized exchange integration, staking aggregation solutions, and mechanisms for NFT and Jetton giveaways. 

These connections are intended to benefit TON blockchain developers and boost the discoverability of their applications.

It will also provide TON Space users with access to a broader array of decentralized services and competitive transaction rates. The development will make the platform a more appealing option for a broader audience.

Still, the wallet update is designed to enhance the accessibility of the TON network’s features for both developers and consumers. Formerly in beta, TON Space is now set to become a permanent, fully-featured alternative.

Andrew Rogozov highlighted this transformation, stating, “TON Space is transitioning from a crypto asset storage solution to an ecosystem in and of itself.”

He added, “We want TON Space to become a gateway for the entire TON ecosystem, empowering Telegram’s 950 million users to seamlessly access dApps built on TON.”

In the meantime, Today, the price of Toncoin is $5.37, with a 24-hour trading volume of $584.75 M. In the past 24 hours, TON has experienced a 6.40% decline.

Toncoin price chart shows bearish momentum – Source: CoinMarketCap

It is currently down -17.39% from its 7-day all-time high of $6.49 and down 2.94% from its 7-day all-time low of $5.21. 

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