Telegram-Based Crypto Wallet App Now Allows Fiat Purchases

An app that puts a cryptocurrency wallet inside your Telegram account is making it easier to buy coins with U.S. dollars.

Ton Wallet launched in late 2018 as a messenger-based platform for sending payments, a la Venmo.

"For mass-market adoption of decentralized banking, you need more people," said Button Wallet COO Rachael McCrary.

Telegram itself is reportedly nearing completion of its hotly anticipated Telegram Open Network.

Ton Wallet's fiat on-ramp stems from a partnership with payment processor Wyre.

"At Wyre, we're on a mission to help lower the barriers to entry for crypto platforms by offering them compliant ports into a regulated fiat world. Helping users already familiar with Telegram to easily buy crypto and self-custody funds all within the messenger app is a major achievement by Button Wallet."

Ton Wallet is non-custodial wallet that lets users exchange and send a variety of cryptocurrencies, typically in small amounts.

Bitcoin, ether and DAI are the only cryptos available for purchase with dollars, though the wallet can store several other assets.

Next up, Button Wallet says it's ready to integrate Telegram's forthcoming GRAM token.

At the recent ETH New York hackathon, Button Wallet co-founder Alekasndr Safonov said the company built a wallet that works in Discord.