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# Telegram is planning to build Crypto Wallets, Decentralized Exchange
- URL: https://www.techloy.com/telegram-plans-to-build-crypto-wallets-decentralized-exchange/
- Published: 2022-12-05T16:26:44.000Z
- Updated: 2022-12-05T16:26:44.000Z
- Author: Emmanuel Oyedeji
- Tags: / News, / Crypto

Cloud-based messaging app Telegram has unveiled plans to focus on the essentials of the crypto market: decentralization. The new products are aimed at placing more decentralization in users’ hands.

The messaging app has sold $50 million in usernames in less than a month through its blockchain-based auction platform, Fragment, according to CEO Pavel Durov.

The figure speaks to the success of Telegram’s second go-around at bootstrapping its own crypto infrastructure. Fragment is built atop the Telegram Open Network (TON), a blockchain the CEO, Durov, abandoned under regulatory pressure in 2020 and later returned to after its community kept it alive.

Telegram is a free chat program that offers many advantages in terms of privacy, security, and ease of use for many people throughout the world.